Audit procedures are processes and techniques that auditors perform to obtain audit evidence. To indicate: Whether the first or second type of evidence is more reliable.

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Answer 1

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Chapter 5, Problem 5.34P

To determine

Concept introduction:Audit procedures are processes and techniques that auditors perform to obtain audit evidence.

To indicate: Whether the first or second type of evidence is more reliable.

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Audit evidence can come in different forms with different degrees of reliability. Which of the following types of evidence is the least reliable?a. Invoices from suppliersb. Bank statements obtained from clientsc. The calculations made by the auditord. Sales invoice unnumbered

Evidence comes in various types and has different degrees of reliability. Below are some pairs of various types of evidence: A bank confirmation versus observation of the segregation of duties between cash receipts and recording payment in the accounts receivable subsidiary ledger. An auditor’s recalculation of depreciation versus examination of raw material requisitions. A bank statement included in the client’s records versus the client’s shipping documents. Required: For each pair, indicate which type of evidence is more reliable. Justify your choices

Confirmations of bank accounts may help the auditor to determine if material amounts of accounts receivable have been sold to the bank on a recourse basis. True False

Answer 2

Question

Chapter 5, Problem 5.34P

To determine

Concept introduction:Audit procedures are processes and techniques that auditors perform to obtain audit evidence.

To indicate: Whether the first or second type of evidence is more reliable.

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Answer 3

Question

Chapter 5, Problem 5.34P

To determine

Concept introduction:Audit procedures are processes and techniques that auditors perform to obtain audit evidence.

To indicate: Whether the first or second type of evidence is more reliable.

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Answer 4

Question

Chapter 5, Problem 5.34P

To determine

Concept introduction:Audit procedures are processes and techniques that auditors perform to obtain audit evidence.

To indicate: Whether the first or second type of evidence is more reliable.

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Answer 5

Chapter 5, Problem 5.34P

To determine

Concept introduction:Audit procedures are processes and techniques that auditors perform to obtain audit evidence.

To indicate: Whether the first or second type of evidence is more reliable.

Answer 6

Chapter 5, Problem 5.34P

To determine

Concept introduction:Audit procedures are processes and techniques that auditors perform to obtain audit evidence.

To indicate: Whether the first or second type of evidence is more reliable.

Answer 7

Chapter 5, Problem 5.34P

To determine

Concept introduction:Audit procedures are processes and techniques that auditors perform to obtain audit evidence.

To indicate: Whether the first or second type of evidence is more reliable.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 5 - Prob. 5.1RQ Ch. 5 - Prob. 5.2RQ Ch. 5 - Prob. 5.3RQ Ch. 5 - Prob. 5.4RQ Ch. 5 - Prob. 5.5RQ Ch. 5 - Prob. 5.6RQ Ch. 5 - Prob. 5.7RQ Ch. 5 - Prob. 5.8RQ Ch. 5 - Prob. 5.9RQ Ch. 5 - Prob. 5.10RQ

Audit procedures are processes and techniques that auditors perform to obtain audit evidence. To indicate: Whether the first or second type of evidence is more reliable.

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Concept introduction:Audit procedures are processes and techniques that auditors perform to obtain audit evidence.

To indicate: Whether the first or second type of evidence is more reliable.

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Chapter 5 Solutions

Audit procedures are processes and techniques that auditors perform to obtain audit evidence. To indicate: Whether the first or second type of evidence is more reliable.

Videos

Concept introduction:Audit procedures are processes and techniques that auditors perform to obtain audit evidence. To indicate: Whether the first or second type of evidence is more reliable.

Want to see the full answer?

Chapter 5 Solutions

Concept introduction:Audit procedures are processes and techniques that auditors perform to obtain audit evidence.

To indicate: Whether the first or second type of evidence is more reliable.