Question: The audit program for the Revenue account for a client has been drafted. The following item appears: Required (a) Does the procedure address the stated

The audit program for the Revenue account for a client has been drafted. The following item appears: 

DETAILED AUDIT PROCEDURE ITEM ASSERTION Select a sample of sales from the sales journal and ensure each sales invoice is


Required 

(a) Does the procedure address the stated assertion? Explain. 

(b) If your answer to (a) is no, provide the correct assertion or explain what work would be required to address the assertion. 

(c) Explain what type of evidence is obtained by performing the stated procedure. How persuasive is it?

DETAILED AUDIT PROCEDURE ITEM ASSERTION Select a sample of sales from the sales journal and ensure each sales invoice is supported by an authorized delivery slip and approved customer order. Completeness

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a The completeness assertion relates to the claim by management that revenue shown in the profit and ... View full answer

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