Different procedures that you will use in performing an audit
Testing the mathematical accuracy and consistency of internal accounting records. Very Reliable. Consists of footing and crossfooting.
Auditors develop expectations about what will be reported in the financial statements based on their knowledge of the company, its industry, and the environment it operates in. Moderately reliable.
Extremely relevant to PPE, inventory, and cash on hand. Considered very reliable.
Communicating with a 3rd party through a hard copy letter. Reliable because it comes from an independent source.
Vouching. Tracing. select sample items from accounting records and then get source documents to support these transactions. select from source documents and then go and find in the accounting records.