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Attached are examples of audit procedures performed by auditors as part of their audit of financial statements. REQUIRED: For each of the audit procedures attached, indicate the type of audit evidence being obtained by the auditor. Choose your answer from the list below, selecting the best choice for the procedure. LIST OF TYPES OF AUDIT EVIDENCE (1) Inspection of Documents--Tracing (2) Inspection of Documents--Vouching (3) Inspection of Documents--Scanning (4) Physical Inspection (5) Observation (6) Inquiry (7) Confirmation (8) Recalculation (9) Reperformance (10) Analytical Procedures EXAMPLES OF AUDIT PROCEDURES PERFORMED BY AUDITOR (a) Review the accounts receivable with the credit manager to evaluate their collectibility. (b) Stand by the payroll time clock to determine whether any employee "clocks in" more than one time. (c) Count inventory items and record the amount in the audit files. (d) Obtain a letter from the client's attorney addressed to the CPA firm stating that the attorney is not aware of any existing lawsuits. (e) Extend the cost of inventory times the quantity on an inventory listing to test whether it is accurate. (f) Obtain a letter from an insurance company to the CPA firm stating the amount of the fire insurance coverage on buildings and equipment. (g) Examine an insurance policy stating the amount of the fire insurance coverage on buildings and equipment. (h) Calculate the ratio of cost of goods sold to sales as a test of overall reasonableness of gross margin relative to the preceding year. (i) Obtain information about internal control by requesting the client to fill out a questionnaire. i) Trace the total on the cash disbursements journal to the general ledger

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