You are planning the audit of the PageDoc Company's inventory. PageDoc manufactures a variety of office equipment.
Question:
Required
Describe how each of the following procedures could be used in the audit of inventory and the related assertion(s) it tests:
Procedure ___________________How used _________________Assertion(s) tested
Observation
Physical inspection
Inquiry
Confirmation
Inspection of documents
Recalculation
Reprocessing
Vouching
Analytical procedures
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Procedure How Used examples Assertions Tested Observation Observe client personnel taking a physica...View the full answer
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Related Book For 
Auditing A Business Risk Approach
ISBN: 978-0538476232
8th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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