For each of the descriptions 1-6, match the correct word or phrase from A-H. A. Inspections of tangible assets B. Confirmation C. Tracing D. Vouching E. Inquiry F. External-internal evidence G. Audit plan H. Substantive procedures ___ 1. Documentation prepared by independent parties and sent to the client. ___ 2. Proceeding forward through the accounting and control system from the evidence to the financial statements. ___ 3. Audit of details of transactions and balances. ___ 4. Audit procedure that provides compelling evidence of existence. ___ 5. Direct correspondence with independent parties. ___ 6. A list of audit procedures.
For each of the descriptions 1-6, match the correct word or phrase from A-H. A. Inspections of tangible assets B. Confirmation C. Tracing D. Vouching E. Inquiry F. External-internal evidence G. Audit plan H. Substantive procedures ___ 1. Documentation prepared by independent parties and sent to the client. ___ 2. Proceeding forward through the accounting and control system from the evidence to the financial statements. ___ 3. Audit of details of transactions and balances. ___ 4. Audit procedure that provides compelling evidence of existence. ___ 5. Direct correspondence with independent parties. ___ 6. A list of audit procedures.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
For each of the descriptions 1-6, match the correct word or phrase from A-H.
A. Inspections of tangible assets
B. Confirmation
C. Tracing
D. Vouching
E. Inquiry
F. External-internal evidence
G. Audit plan
H. Substantive procedures
___ 1. Documentation prepared by independent parties and sent to the
client.
___ 2. Proceeding forward through the accounting andcontrol system
from the evidence to the financial statements.
___ 3. Audit of details of transactions and balances.
___ 4. Audit procedure that provides compelling evidence of
existence.
___ 5. Direct correspondence with independent parties.
___ 6. A list ofaudit procedures .
A. Inspections of tangible assets
B. Confirmation
C. Tracing
D. Vouching
E. Inquiry
F. External-internal evidence
G. Audit plan
H. Substantive procedures
___ 1. Documentation prepared by independent parties and sent to the
client.
___ 2. Proceeding forward through the accounting and
from the evidence to the financial statements.
___ 3. Audit of details of transactions and balances.
___ 4. Audit procedure that provides compelling evidence of
existence.
___ 5. Direct correspondence with independent parties.
___ 6. A list of
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