Which of the following types of audit evidence can be considered the least reliable? a. Purchase order forms with significant alterations. b. Physical counts of inventory observed by the auditor. c. Bank statements obtained from the client company's bank. d. Correspondence from the client's attorney about litigation

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Q: Distinguish between fraudulent financial reporting and misappropriation of assets.

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Q: If an auditor performs a stocktake of the inventory of Station Ltd and selects items from the…

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Q: Which of the following procedures would an auditor most likely perform in searching for unrecorded…

A: Account payable  means the amount owed by business to outsider for the goods received and services…

Q: When auditing inventories, an auditor would least likely verify thata. All inventory owned by the…

A: Answer:   Option a

Q: Which of the following substantive procedures would auditors most likely perform to obtain evidence…

A: Answer:   Option b

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Q: Which among the following types of audit evidence can be considered the most reliable? a. Verbal…

A: Please see the next step for the solution

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A: Step1   Sufficiency depicts the quantity of audit evidence and Appropriateness is depicts the…

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Q: ient’s treasurer. d. A check, issued by the company and bearing the payee’s endorsement, that is…

A: Given: To explain the correct option among the given options as,

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Q: a) Audit tests include tests of controls and substantive procedures. Substantive procedures can be…

A: Substantive Audit tests are performed to test the materiality of the elements. These tests are…

Q: The overall objective in the audit of the acquisition and payment cycle is:  Group of answer…

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Q: Which of the following procedures would most likely be performed during planning?a. Surprise…

A: Identifying related parties would most likely be performed during planning.

Q: Which of the following substantive audit procedures is most likely to be performed by the auditor to…

A: Substantive audit procedures refer to audit processes performed by the auditor to detect material…

Q: The following audit procedures are consistent with gathering evidence about the valuation assertion…

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Q: when the auditor Watch employees count inventory to determine whether company procedures are being…

A: Ans. An auditor carries out various audit procedures like observation, inspection, confirmation,…

Q: Which of the following is NOT an example of externally generated evidence sent directly to the…

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Q: List the functions needs to be done on the part of auditor to verify contingent liabilities of an…

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Q: onducting which of the following steps, the auditor can obtain sufficient and appropriate audit…

A: The sufficiency and appropriateness are the two components based on which the auditor decides on the…

Q: Which of the following audit procedures probably would provide the most reliable evidence related to…

A:

Q: When auditing the accounts receivable account on the balance sheet, an auditor’s procedures most…

A: Accounts receivable: It can be defined as the sum of money that is owed by the customers to the…

Q: Which of the following audit procedures is aimed most directly at testing the completeness assertion…

A: For acco payable auditor should  perform  appropriate  audit procedure  for testing  completeness…

Q: Which of the following is most closely related to the relevance of audit evidence?a. Auditors decide…

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Q: Analytical procedures are generally used to produce evidence froma. Confirmations mailed directly to…

A:

Q: emphasis of the auditor in the following audit procedures?

A: Option 1 is wrong because by confirming the total amount of accounts payable subsidiary record with…

Q: (i) Differentiate between the audit strategy and the audit plan.

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

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Q: Which of the following audit procedures represent a substantive test of transaction that would…

A: Substantive test of transaction is the checking of the transaction with the supporting documents at…

Q: To gather audit evidence about the proper credit approval of sales (i.e., valuation assertion), the…

A: Audit is the detailed process of checking and verifying books of accounts and financial information…

Q: The main object of an audit is a. Expression of expert opinion b. Detection and Prevention of fraud…

A: THE MAIN OBJECTIVE OF AN AUDITOR IS TO  EXAMINES THE BOOKS OF ACCOUNTS OF A COMPANY THROUGH WHICH…

Q: By conducting which steps, the auditor can obtain sufficient and appropriate audit evidence…

A: Sometimes due to the nature of Business sometimes the inventory held by the business is under the…

Q: Which of the following auditing procedures probably would provide the most reliable evidence…

A: Trace test counts noted during the entity’s physical count to the entity’s summarization of…

Q: List the transaction-related audit objectives for the audit of salestransactions. For each…

A:

Q: Audit evidence can come in different forms with different degrees of persuasiveness.Which of the…

A:

Q: The following questions concern types of audit tests.Choose the best response.a. The auditor looks…

A: Answer:   Option 2.

Q: What audit procedures are most likely to be used to verify accountsreceivable written off as…

A: Audit procedure:   Audit procedures are the processes, techniques, and methods that auditors perform…

Q: What procedures must the auditor perform when gathering evidence related to contingencies? (Several…

A: Audit evidence: Audit evidence refers to the information and explanations used by the auditor in…

Q: Which of the following is/are the least persuasive type of audit evidences? 1. Photocopies of sales…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : Audit…

Q: Auditors gather several different types of evidence during the audit including physical evidence;…

A: The audit is the examination of the financial recording of the company. The auditor is the person…