Read the overview below and complete the activities that follow. The audit procedures for each financial statement account must be tailored to uncover potential misstatements in each account. CONCEPT REVIEW: While specific audit procedures must be tailored to each type of account, it is important to ensure that the auditors are meeting general objectives based on assertions. 1. A cutoff test that relates to plant assets typically affects Because documents like checks, shipping documents, and receiving reports are usually auditors to verify cutoff. 3. The amount appearing as an asset on a financial statement is usually the accumulation of many 4. Fair values can be evaluated by comparing to prices on markets. 5. Auditors may use audit to test clerical accuracy. it is easier for items.