The audit working paper that reflects the major components of an amount reported in the financial statements is the O Lead schedule. O Carryforward schedule. O Interbank transfer schedule. O Supporting schedule.

The following (1 through 18) are the balance-related, transactionrelated, and presentation and disclosure-related audit objectives.Balance-Related Transaction-Related Presentation and DisAudit Objectives Audit Objectives closure Audit Objectives1. Existence 9. Occurrence 15. Occurrence and2. Completeness 10. Completeness rights3. Accuracy 11. Accuracy 16. Completeness4. Classification 12. Classification 17. Accuracy and5. Cutoff 13. Timing valuation6. Detail tie-in 14. Posting and 18. Classification and7. Realizable value summarization understandability8. Rights and obligationsIdentify the specific audit objective (1 through 18) that each of the following specific auditprocedures (a. through l.) satisfies in the audit of sales, accounts receivable, and cashreceipts for fiscal year ended December 31, 2013.a. Examine a sample of duplicate sales invoices to determine whether each one has ashipping document attached.b. Add all customer balances in the accounts receivable trial balance and…

1. An auditor most likely would review an entity’s periodic accounting for the numerical sequence of shipping documents and invoices to support management’s financial statement assertion of a. Valuation b. Completeness c. Existence and occurrence d. Rights and obligations

Indicate a specific audit procedure under each of the following categories, as applied particularly in the sales and collection cycle.a. test of controlb. substantive test of transactionsc. substantive test of account balances

A review of how an organization’s management and its operating procedures are functioning with respect to their effectiveness and efficiency in meeting stated objectives. a. External Audit b. Operational Audit c. Cash Audit d. Internal Audit

Discuss the meaning of the following terms and how they apply to auditing accounts receivable:                 a. tie-in                b. completeness                c. existence                d. accuracy                e. rights                f. realizable value                g. cutoff                h. classification  Please provide references.

Which of the following is a qualitative characteristic of financial information included in the IASB’S Conceptual framework for financial reporting?     a. Relevance   b. Fair presentation   c. Consistency                       d. Accruals

An audit strategy memorandum containsa. Specifications of auditing standards relevant to the financial statements being audited.b. Specifications of procedures the auditors believe appropriate for the financial statements under audit.c. Documentation of the assertions under audit, the evidence obtained, and the conclusions reached.d. Reconciliation of the account balances in the financial statements with the account balances in the client’s general ledger.

financ cial recor... Auditors while examining the financial records must follow:

Subject- Audit SUMMARIZE THE CORE ISSUES for the following topic:- • ISA 805, Special Considerations–Audits of Single Financial Statements and. Specific Elements, Accounts or Items of a Financial Statement