Transaction/Balance Related Audit Objective Audit Procedure ated Audit Objective Management Assertion Audit Evidence obtain a letter from the client's attorney addressed to the CPA firm stating that the attorney is not aware of any existing lawsuits Confirmation Physical Examination count a sample of inventory tems and record the amount in the audit files Recalculation Add the sales journal entries to determine whether they were correctly totaled Obtain a written statement from bank stating that the client has $15,671 on deposit and liabilities of $500,000 on a demand note Confirmation Compare a duplicate sales invoice with the sales journal for customer name and amount Inspection Review the Accounts Receivable with the credit manager to evaluate their collectibility Inquiries of Client Calculate the ratio of sales commission expense to sales as a test of sales commissions Analytical Procedures