For each of the audit procedures presented, identify the management assertion(s) the procedure covers (A?G), and indicate the quality of audit evidence (low, moderate, high) obtained through the procedure.

Assertions:A. Cut-offB. AccuracyC. CompletenessD. ExistenceE. Valuation

F. OccurrenceG. Rights & Obligations

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Quality of Audit Evidence (Low, Moderate, High) Assertion(s) (A,B,C,D,E,FG) Audit Procedures Discuss with management any payroll liabilities that appeared in the prior year's financial statements that have not been accrued for in the current year. Discuss with management its estimate for allowance for doubtful accounts. Obtain and review shipping documents for a sample of sales transactions. Send letters to company's lawyers to confirm the number of outstanding legal claims and estimated dollar amounts to resolve each claim. Review title documents related to a company's recently pur- chased parcel of land. Review and recalculate the company's amortization schedule. Recount a sample of inventory items on the warehouse floor and trace count results to accounting records. Recalculate management's provision for damaged inventory.