TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) The SEC requires the auditors of public companies to retain e-mail correspondence related to the 1) audit. 2) The times interest ratio helps the auditor determine if the client can comfortably make its interest 2) payments required in the future on its long-term debts. 3) In addition to sample size, the individual population items tested affect the sufficiency of audit 3) evidence gathered by the auditor. 4) Auditors use trends in the inventory turnover ratio to identify potential inventory obsolescence. 4) 5) An auditor can use engagement management software to facilitate tracking audit progress. 5) 6) The most important benefits of industry comparisons are to aid in understanding the client's 6) business and as an indication of the likelihood of financial failure. 7) Substantive analytical procedures performed in all phases of the audit generally use aggregate data 7) to help understand where misstatements are more likely to occur. 8) It is important for the auditor to standardize the sample size from client to client and from audit to 8) audit. 9) After deciding on the sample size for a particular audit procedure, the auditor has a choice of 9) several different methods to select the specific population items to test. 10) The audit program for inventories should be the same as the audit program for account 10) receivables