You are planning the audit of the Pagemate Company's inventory. Pagemate manufactures a variety of office equipment.
Question:
Required
Describe how each of the following procedures could be used in the audit of inventory and the related assertion(s) it tests:
Procedure How used Assertion(s) tested
Observation
Physical Examination
Inquiry
Confirmation
Examination of Documents
Recomputation
Reprocessing
Vouching
Analytical Procedures
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Procedure How Used examples Assertions Tested Observation Observe client personnel taking a physica...View the full answer
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Related Book For 
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
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