The following is a list of tasks performed by auditors in gathering evidence to support their opinion.
Question:
The following is a list of tasks performed by auditors in gathering evidence to support their opinion. For each task, indicate whether a computer-assisted audit program could be used. Indicate the reasons for your answer.
a. Selecting accounts receivable confirmations.
b. Comparing subsidiary amounts to general ledger control amounts.
c. Investigating accounts receivable confirmation responses.
d. Inquiries on the collectibility of customer accounts.
e. Extracting important items from the minutes of meetings of the board of directors.
f. Preparing a list of property and equipment additions in excess of a certain dollar amount.
g. Comparing capital stock issuances with legal authorizations.
h. Determining the adequacy of insurance coverage.
i. Testing the accounts receivable aging schedule to supporting documents.
Step by Step Answer:
Auditing An Assertions Approach
ISBN: 9780471134213
7th Edition
Authors: G. William Glezen, Donald H. Taylor