The auditor determines that each of the following objectives will be part of your audit of Cameron Co. ,Inc.For each audit objective,select a substantive procedure that would help to achieve that objective.Each of the procedures may be used once,more than once,or not at all.
Subtantive Procedures:
- Select a sample of items during the physical inventory count and determine that they have been included on count sheets.
- Select a sample of recorded items and examine supporting vendors' invoices and contracts.
- Review drafts of the financial statements.
- Select a sample of recorded items and examine supporting vendors' invoices and contracts.
- Select a sample of recorded items on count sheets during the physical inventory count and determine that items are on hand.

\begin{array}{|l|l|l|}\hline & \text { Audit Objective }& \text { Substantive Procedures }\\\hline 1 & \text { Establish the completeness of } \\\hline 2 & \text { Establish the accuracy of cost } \\& \text { amounts of inventories. } \\\hline & \text { Determine that the presentation } \\& \text { and disclosure of inventories } \\& \text { and cost of goods sold is } \\3 & \text { adeguate. } \\\hline & \text { Establish that the client has } \\4 & \text { rights to the recorded } \\& \text { inventories. } \\\hline & \text { Establish the existence of } \\ 5 &\text { ending inventory. }\\\hline\end{array}

Tracing Copies of Computer-Generated Sales Invoices to Copies of the Corresponding

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