ACCOUNTING
7-38 (Classification and Reliability of Audit Evidence) The following are examples of documents typically obtained by auditors.
Required
For each example:
a. Classify the document as internal or external evidence.
b. Classify the document as to its relative reliability (high, moderate, or low)
c. Identify an account balance and related assertion(s) for which the auditor might use the document.
Documentary Evidence Utilized in an Audit:
1. Vendor invoices
2. Vendor monthly statements
3. Sales invoices
4. Shipping documents for sales
5. Bank statements
6. Employee payroll timecard
7. Receiving reports for goods received from vendor
8. Sales contracts
9. Purchase commitment contracts
10. Lease agreements
11. Estimated warranty schedules
12. Purchase order stored on client computer and received electronically
13. Credit rating reports
14. Vendor invoice stored on client computer and received electronically
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