Question: For the following three specific audit procedures (a through d) perform the following: State the specific audit assertion associated with the audit procedure. For each
For the following three specific audit procedures (a through d) perform the following: State the specific audit assertion associated with the audit procedure. For each specific audit assertion identified, state the type and quality of audit evidence required (low, medium or high). Explain why the evidence is the quality level you specify. The auditor selected a sample of deposits from the bank statements and compared the dates of deposits with dates in the cash receipts journal. Type of audit evidence list one only (with reason) (1/2 mark) Applicable audit assertion list one Reliability of evidence (High, only(1/2 mark) Medium or Low, with reason) (1 mark)
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