Reference no: EM132919055

Question 1: Listed below are some audit procedures. For each procedure, 1) identify whether it is a test of control, a substantive test of transactions, an analytical procedure, a test of details of balances, or a dual-purpose test; and 2) list the most relevant audit objective(s) that has(have) been satisfied.

a. Auditors perform test counts of inventory and trace the quantity to the inventory ledger.
b. Auditors send confirmations to suppliers 1) from whom the client has purchased from during the financial year and 2) whose accounts payable account has a zero balance.
c. The auditor observed that the client's warehouse manager did not allow inventories to be shipped out of the warehouse during inventory stocktaking.
d. The auditor observed the inventory count is performed twice by two different groups of counters during inventory stocktaking.
e. Auditors foot the fixed assets master file to see if the total agrees with the general ledger.