Did I answer this correctly? Will thumbs up if correct. Marissa and Joe...

70.2K

Verified Solution

Question

Accounting

Did I answer this correctly? Will thumbs up if correct.

image

Marissa and Joe are discussing substantive procedures that could be used to help audit an attestation client's purchasing process. Marissa has been tasked with performing substantive procedures in this area and has asked Joe for advice. Which of the following suggestions by Joe represents the most appropriate substantive procedure? Marissa could obtain a test sample of receivables transactions and examine documents corroborating their existence such as bills of lading. Marissa could attempt to obtain written assurances by senior management and the internal audit function attesting to the client's appropriate segregation of duties. Marissa could select a sample of purchase transactions and attempt to trace them back to underlying supporting documents such as purchase orders. None of these answer choices are correct

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students