Audit evidence comes in many forms. Classify each of the statements listed below, as one of...
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Audit evidence comes in many forms. Classify each of the statements listed below, as one of the evidence in the following list. NOTE: When answering this question, please write the letter that denotes statement you are addressing and name of the type of evidence you believe is correct. For example, if you believe that the first statement is an example of a computation, write: (1) - computation. Evidence Forms A. Underlying accounting data B. Corroborating information C. Documentary evidence D. Third party representations E. Physical evidence F. Computations G. Data interrelationships H. Client representations Statements (i) Inspecting an entry in the Sales Journal of a service company (ii) Inspecting a Shipping Note of a large retailer (ii) Inspecting the client's Chart of Accounts (iv) Receiving a Bank Confirmation when auditing a charity (v) Footing a column of figures when auditing executives' credit card expenditure. (vi) Calculating the ratio between the floor area of a shop and sales when auditing a client with a chain of whitegoods stores Audit evidence comes in many forms. Classify each of the statements listed below, as one of the evidence in the following list. NOTE: When answering this question, please write the letter that denotes statement you are addressing and name of the type of evidence you believe is correct. For example, if you believe that the first statement is an example of a computation, write: (1) - computation. Evidence Forms A. Underlying accounting data B. Corroborating information C. Documentary evidence D. Third party representations E. Physical evidence F. Computations G. Data interrelationships H. Client representations Statements (i) Inspecting an entry in the Sales Journal of a service company (ii) Inspecting a Shipping Note of a large retailer (ii) Inspecting the client's Chart of Accounts (iv) Receiving a Bank Confirmation when auditing a charity (v) Footing a column of figures when auditing executives' credit card expenditure. (vi) Calculating the ratio between the floor area of a shop and sales when auditing a client with a chain of whitegoods stores
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Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
Posted Date:
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