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The following are audit procedures that are typically performed in an audit of a client's financial statements:
i. Inspect the client's bank statements.
ii. Examine equipment in the client's factory.
iii. Obtain a confirmation of an account receivable directly from the debtors.
QUESTION:
(a) For each of this audit procedures, identify the type of evidence-gathering procedure.
(b) Comment on the relative reliability of each of the types of evidence.
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