There Are Eight Types of Audit Evidence: Physical Examination, Confirmation

question 46

Essay

There are eight types of audit evidence: physical examination, confirmation, inspection, observation, inquiries of the client, reperformance, analytical procedures, and recalculation. For each of the following types of audit tests, indicate the type(s) of evidence that can be obtained through the test: (1) tests of controls, (2) substantive tests of transactions, (3) analytical procedures, and (4) tests of details of balances.

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Definitions:

Internet Shopping

The act of buying goods or services over the internet, often through virtual shops or marketplaces.

iVillage.com

iVillage.com was an online community and content site targeted primarily at women, offering various topics such as health, beauty, parenting, and more, before being discontinued.

Social Media Sites

Online platforms that enable users to create, share content, or participate in social networking with others.

Marketplace Value

The perceived worth or financial value of a product, service, or brand in the competitive market.