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Identify the applicable methods of gathering the evidence

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Reference no: EM132833330

Instruction: Follow the format illustrated in the example

a. Identify the types of audit evidence applicable for each situation

b. Identify the applicable methods of gathering the evidence

Scenario 1. Mr. Magalang is going to audit a housing project in Project 8, Q.C. What is the best way for him to find out how many houses are damaged by the last typhoon?

Scenario 2. Ms. Rosal is going to audit the Accounts Receivable from various clients. What is the best way for her to confirm the balances?

Scenario 3. Mr. Alegre is going to audit the Accounts Payable from various suppliers. What is the best way for him to confirm the balances?

Scenario 4. Ms. Juan is going to audit the accuracy of the entries in the Cash Ledger Account. What is the best way for her to establish the correct cash balance?

Scenario 5 Mr. Mario is going to audit the accuracy of the depreciation expense for the fixed assets. What is the best way for him establish the accuracy of the estimates for each fixed asset?

Reference no: EM132833330

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