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The following are 5 audit procedures taken from an audit program: 1. Conduct cash count for the petty cash kept in office to verify the amount counted by the accountant.e 2. Select samples of payroll records and compute the overtime payment. 3. Observe the endorsement of incoming checks by the accountant. 4. Interview the sales manager and the credit manager to understand if there is a segregation of duties between the credit-granting function and the sales function. 5. Divide individual manufacturing expenses by total manufacturing expenses and compare the results with those in previous years to check for unusual fluctuations. Required: Identify the type of evidence for each procedure using the following table: inspection of asset, confirmation, inspection of documents, analytical procedures, inquiries, recalculation, reperformance, and observation. Audit Procedures 4 Type of evidence (list out the item numbers)

The following are 5 audit procedures taken from an audit program: 1. Conduct cash count for the petty cash kept in office to verify the amount counted by the accountant.e 2. Select samples of payroll records and compute the overtime payment. 3. Observe the endorsement of incoming checks by the accountant. 4. Interview the sales manager and the credit manager to understand if there is a segregation of duties between the credit-granting function and the sales function. 5. Divide individual manufacturing expenses by total manufacturing expenses and compare the results with those in previous years to check for unusual fluctuations. Required: Identify the type of evidence for each procedure using the following table: inspection of asset, confirmation, inspection of documents, analytical procedures, inquiries, recalculation, reperformance, and observation. Audit Procedures 4 Type of evidence (list out the item numbers)

Auditing: A Risk Based-Approach (MindTap Course List)
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
Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments
Section: Chapter Questions
Problem 24RQSC
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The following are 5 audit procedures taken from an audit program: 1. Conduct cash count for the petty cash kept in office to verify the amount counted by the accountant.e 2. Select samples of payroll records and compute the overtime payment. 3. Observe the endorsement of incoming checks by the accountant. e 4. Interview the sales manager and the credit manager to understand if there is a segregation of duties between the credit-granting function and the sales function. 5. Divide individual manufacturing expenses by total manufacturing expenses and compare the results with those in previous years to check for unusual fluctuations. Required: Identify the type of evidence for each procedure using the following table: inspection of asset, confirmation, inspection of documents, analytical procedures, inquiries, recalculation, reperformance, and observation. Audit Procedures Type of evidence (list out the item numbers)
Transcribed Image Text:The following are 5 audit procedures taken from an audit program: 1. Conduct cash count for the petty cash kept in office to verify the amount counted by the accountant.e 2. Select samples of payroll records and compute the overtime payment. 3. Observe the endorsement of incoming checks by the accountant. e 4. Interview the sales manager and the credit manager to understand if there is a segregation of duties between the credit-granting function and the sales function. 5. Divide individual manufacturing expenses by total manufacturing expenses and compare the results with those in previous years to check for unusual fluctuations. Required: Identify the type of evidence for each procedure using the following table: inspection of asset, confirmation, inspection of documents, analytical procedures, inquiries, recalculation, reperformance, and observation. Audit Procedures Type of evidence (list out the item numbers)
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