Which of the following types of evidence would an auditor most likely examine to determine whether controls are operating as designed?Select one:a.Letters of representations corroborating inventory pricing.b.Client records documenting the use of computer programs.c.Attorneys' responses to the auditor's inquiries.d.Confirmations of receivables verifying account balances.Clear my choice

13. In most of the assertions much of the evidence is drawn and each one should be considered and weighed to ascertain its weight to prove or disprove the assertion. An auditor picks up evidence from a variety of fields. Analyse and explain with the help of examples.

When obtaining an understanding of controls that are relevant to the audit, the auditor shall evaluate the design of those controls and determine whether they have been implemented, by performing procedures in addition to inquiry of the entity's personnel.Select one:TrueFalse

When considering the use of management's written representations as audit evidence about the completeness assertion, an auditor should understand that such representationsSelect one:a.Constitute sufficient evidence to support the assertion when considered in combination with a sufficiently low assessed level of control risk.b.Are not part of the evidence considered to support the assertion.c.Complement, but do not replace, substantive tests designed to support the assertion.d.Replace a low assessed level of control risk as evidence to support the assertion.

Which of the following procedures would an auditor most likely rely on to verify management's assertion of completeness?Select one:a.Compare a sample of shipping documents to related sales invoices.b.Confirm a sample of recorded receivables by direct communication with the debtors.c.Review standard bank confirmations for indications of kiting.d.Observe the client's distribution of payroll checks.

Which of the following is normally the most reliable source of audit evidence?  A. Internal audit  B. Suppliers’ statements  C. Board minutes  D. Analytical review