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© 2008 Prentice Hall Business Publishing     Accounting Information Systems, 11/e    Romney/Steinbart

34 of 151

THE NATURE OF AUDITING

Collection of Audit Evidence

The following are among the most commonly used evidence collection methods:

Observation

Review of documentation

Discussions

Physical examination

Confirmation

Re-performance

Vouching

Analytical review

Examine relationships and trends among information items to detect those that deserve further investigation.

Example: If the inventory turnover ratio has plummeted, it’s time to investigate why the change has occurred.

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