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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 ____________________

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 ____________________

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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