I. Enumerate, and explain, each audit procedure classified according to
purpose and according to nature.
a. Analytical procedures:
i. It is used throughout the audit to perform 3 purposes; preliminary
analytical review risk assessment, Substantive analytical
procedures, and for final analytical review. It is a type of evidence
that would indicate the possible problems with the client’s FS.
b. Enquiry and confirmation directly from a third party:
i. The auditor would enquire and confirm about the dealings made
by the third party to the company in order to obtain audit
evidences for the engagement. The objective of the auditor is to
obtain relevant and reliable audit evidences that could help them
make a conclusion.
c. Inspection of records and assets:
