The audit procedures are the procedures used by the auditor in order to test the viability of the financial information provided by the company whose statements are being audited. Such procedures include inquiries, observation, calculations etc. All of this is done to check if the financial information is free from any kind of material misstatement or not. To describe: The audit procedures MC should consider performing in the audit of K’s payroll transactions to address the risk of overstatement.

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Chapter 12, Problem 12.26P

To determine

Introduction: The audit procedures are the procedures used by the auditor in order to test the viability of the financial information provided by the company whose statements are being audited. Such procedures include inquiries, observation, calculations etc. All of this is done to check if the financial information is free from any kind of material misstatement or not.

To describe: The audit procedures MC should consider performing in the audit of K’s payroll transactions to address the risk of overstatement.

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