Reference no: EM132690976

Problem 1: Inquiry is a valuable technique during the planning phase of the audit because it

A. helps obtain information about how procedures and internal controls operate.
B. involves the rechecking of controls to ensure that they are conducted accurately.
C. is conclusive evidence from an independent source.
D. is a type of audit evidence that provides a very high level of assurance.

Problem 2: An example of an external document is

A. ?employees' time reports.
B. a cancelled cheque.
C. the minutes of the board of? directors' meetings.
D. inventory receiving reports.