Following Are Examples of Evidence That Could Be Collected During

question 78

Essay

Following are examples of evidence that could be collected during an audit of financial statements.
1.Duplicate copies of sales invoices
2.Inspection of new $100 000 cutting machine
3.Bank confirmation
4.Remittance advices
5.Vendors' invoices
6.Standard letter from lawyer to auditor
7.Auditor inventory count sheets
8.Shipping documents
9.Payroll cheques
10.Long-term debt agreements review notes
11.Auditor interest expense calculation worksheet
12.Observation by auditor of computer error message (invalid supplier number)
13.Gross margin calculation
14.Interview notes from interview with credit manager
Required:
Classify each type of evidence as to its reliability (1 - high,2 - moderate,3 - low).Justify your classification.

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Definitions:

Bath Water Temperature

The measure of how hot or cold the water is in a bathtub, important for comfort and safety, especially for children and the elderly.

Onychocryptosis

The inward growing of the nail into the soft tissue around it.

Laser Excision

Laser excision involves the use of laser technology to remove or cut out tissue, often used in surgical procedures and dermatology.

Ammonia Dermatitis

Skin irritation caused by prolonged exposure to ammonia, commonly seen in diaper rash.