Evidence Quality Columns A & B contain audit procedures. For…
Evidence Quality Columns A & B contain audit procedures. For each set of procedures, select which one provides higher quality evidence. Answer Column A Column B Confirm receivables with a client’s customer Confirm receivables with a client’s controller Test the balance of inventory at the end of Q3 Test the balance of inventory at the end of Q4 Verify inventory quantity by reviewing documentation such as purchase orders, shipping receipts, and invoices Verify inventory quantity by physically inspecting the inventory in the client’s warehouse Test a sample of 25 invoices for accuracy Test a sample of 50 invoices for accuracy Inquire of management as to any inventory held on consignment Send a confirmation to vendors asking for information on any inventory held on consignment.