Question: Select from the option lists provided two procedures that describe the likely choice of the auditor for each independent statement. Each choice may be used

Select from the option lists provided two procedures that describe the likely choice of the auditor for each independent statement. Each choice may be used once, more than once, or not at all.

Statement

Procedure

1

Procedure

2

1 .

The auditor is gathering substantive evidence about the existence of receivables. The risk of material misstatement has been assessed as high. What two tests of details provide the auditor with the most persuasive evidence?

2 .

The auditor concludes that the risk of material misstatement for the existence of receivables is low. If performing only substantive analytical procedures will provide sufficient appropriate evidence, what procedure is the auditor most likely to perform?

3 .

The auditor applied substantive procedures that are considered necessary in the audit of receivables, but provide little evidence as to existence.

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