The following are examples of documentation typically obtained byauditors:1. Duplicate sales invoices2. Subsidiary accounts receivable records3. Vendors’ invoices4. General ledgers5. Title insurance policies for real estate6. Notes receivable7. Bank statements8. Cancelled payroll checks9. Cancelled notes payable10. Payroll time cards11. Purchase requisitions12. Articles of incorporation13. Receiving reports (documents prepared when merchandise is received)14. Minutes of the board of directors15. Signed W-4s (Employee’s Withholding Exemption Certificates)16. Remittance advices17. Signed lease agreements18. Duplicate copies of bills of ladinga. Classify each of the preceding items according to type of documentation: (1) internalor (2) external.b. Explain why external evidence is more reliable than internal evidence.
The following are examples of documentation typically obtained by
auditors:
1. Duplicate sales invoices
2. Subsidiary accounts receivable records
3. Vendors’ invoices
4. General ledgers
5. Title insurance policies for real estate
6. Notes receivable
7. Bank statements
8. Cancelled payroll checks
9. Cancelled notes payable
10. Payroll time cards
11. Purchase requisitions
12. Articles of incorporation
13. Receiving reports (documents prepared when merchandise is received)
14. Minutes of the board of directors
15. Signed W-4s (Employee’s Withholding Exemption Certificates)
16. Remittance advices
17. Signed lease agreements
18. Duplicate copies of bills of lading
a. Classify each of the preceding items according to type of documentation: (1) internal
or (2) external.
b. Explain why external evidence is more reliable than internal evidence.
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