the auditor might perform a simple analytical procedure such as multiplying the client’s monthly rent times 12 as a test of the client’s rent expense account. If the product agrees with the balance in rent expense

no additional testing of the account may be necessary. Terms: Purposes of analytical procedures Diff: Challenging Objective: LO 7-4 AACSB: Reflective thinking skills 34) Define the following terms commonly used in audit procedures: 1. Examine 2. Scan 3. Compute 4. Foot 5. Compare 6. Count 7. Vouch Answer: 1. Examine A reasonably detailed study of a specific document or record to determine specific facts about it. It is the inspection or count by the auditor of a tangible asset. 2. Scan A less detailed examination of a document or record to determine whether there is something unusual warranting further investigation. 3. Compute A calculation done by the auditor independent of the client. 4. Foot Addition of a column of numbers to determine whether the total is the same as the client’s. 5. Compare A comparison of information in two different locations. 6. Count A determination of assets on hand at a given time. This is associated with evidence defined as physical examination. 7. Vouch The use of documents to verify recorded transactions or amounts. Terms: Audit evidence and audit procedures Objective: LO 7-4 AACSB: Reflective thinking skills 35) Below are 12 audit procedures. Classify each procedure according to the following types of audit evidence: (1) physical examination

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