5Please provide the type of audit procedures that was performed in the following actions or procedures: Read the minutes of a board of directors’ meeting to summarize the information relevant to the financial statements __________________ Trace postings from the sales reports to the general ledger accounts, and back from the general ledger listing to the sales reports to determine sales have been recorded _____________ Calculate debt-equity ratio for each quarter and compare to previous year or the industry ratio __________________________ Prepare a written request to sample of suppliers or vendors to confirm the accuracy of the amount owed to them by the client that is being audited ____________________

Audit procedures are the procedures that are performed by the auditors to obtain audit evidence in…

Answered: Please provide the type of audit…

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter11: Auditing Inventory, Goods And Services, And Accounts Payable: The Acquisition And Payment Cycle

Section: Chapter Questions

Problem 23RQSC

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Please provide the type of audit procedures that was performed in the following actions or procedures:

Read the minutes of a board of directors’ meeting to summarize the information relevant to the financial statements __________________

Trace postings from the sales reports to the general ledger accounts, and back from the general ledger listing to the sales reports to determine sales have been recorded _____________

Calculate debt-equity ratio for each quarter and compare to previous year or the industry ratio __________________________

Prepare a written request to sample of suppliers or vendors to confirm the accuracy of the amount owed to them by the client that is being audited ____________________

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