Conflicting Evidence

Part 1
For each pair of documents, identify which is more reliable. In a short paragraph, explain why your choice is more reliable.
•Pair 1: Accounts receivable existence
Management statement regarding balance vs. Confirmations of balances from clients
•Pair 2: Inventory existence
Auditor count of inventory items vs. Client count of inventory items
•Pair 3: Completeness of expense recognition
Client journal printout
vs. Vendor invoices
•Pair 4: Valuation of fixed asset and depreciation expense
Purchase contract and auditor recalculation of depreciation vs. Client depreciation schedule
Part 2
An auditor audits a company. As part of the audit, the auditor recalculates depreciation expense based on a listing of fixed
assets. Both the listing of fixed assets and the recalculated depreciation expense are included in audit documentation. The
auditor finds documentation to support the existence and valuation of each asset, but that documentation is not included in
the workpapers. What characteristics should the recalculated depreciation schedule include to be considered “good” audit documentation?