Caitlin and Robbie are about to begin the audit of a major clients' purchasing process. Their supervisor
Maggie has suggested to them that they should spend some time attempting to gain a better
understanding of the client and the client's industry before performing any analytical procedures. Which
of the following represent techniques Caitlin and Robbie could perform to help them gain a better
understanding? Select all that apply.
Caitlin and Robbie should consider performing substantive procedures on a selected sample of
the clients' internal controls to ensure robustness and effectiveness of the controls.
Caitlin and Robbie should consider economic drivers that might influence key areas of the
client's business, such as purchases.
Caitlin and Robbie should consider familiarizing themselves with key industry characteristics
such as average payment periods and seasonality.
Caitlin and Robbie should consider a procedure to vouch recorded purchase transactions to
underlying bills of lading etc.
