Answered: When the auditor develops supporting…

When the auditor develops supporting evidence for amounts posted to account balances with documentary evidence, that process is called: * O Inquiry O Confirmation O Vouching O Physical examination

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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Concept explainers

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.

Question

When the auditor develops supporting
evidence for amounts posted to
account balances with documentary
evidence, that process is called: *
O Inquiry
O Confirmation
O Vouching
Physical examination

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