ISA 500 Audit evidence requires that “the auditor should obtain sufficient, appropriate audit evidence to be able to draw reasonable conclusions on which to base the audit opinion”. The explanatory material contained within ISA 500 identifies eight procedures for obtaining audit evidence.

Required:

(a)Describe seven procedures for obtaining audit evidence to test related assertion.                                                                                                (10 marks).

(b)State six audit evidence you would seek in respect of the following:

1. Cash at bank and bank loan                                           (5 Marks).
2. Cash in hand                                                                       (5 Marks).
3. Motor vehicle                                                                        (5 Marks)