A) There Are Seven Types of Audit Evidence: Inspection, Observation

Essay

A) There are seven types of audit evidence: inspection, observation, inquiries of the client, external confirmation, recalculation, reperformance, and analytical procedures. For each of the following types of audit tests, indicate the type(s) of evidence that can be obtained through the test: (1) tests of controls, (2) analytical procedures, and (3) tests of details of balances.
B) Contrast the circumstances in which the auditor would choose not to test controls with those in which he or she would perform tests of controls.
C) Types of audit tests include tests of controls, analytical procedures, and tests of details of balances. Rank these types of tests from least costly to most costly.