The auditor gathers evidence in the revenue and the acquisition and expenditure process to determine whether the financial statements are materially misstated.a.List the two most important assertions in the revenue process.Describe an audit procedure related to each assertion that is frequently performed in this process.b.Describe the most important assertion in the acquisition and expenditure business process and the audit procedure most often used to gather evidence related to this assertion.

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The Answer of The auditor gathers evidence in the revenue and the acquisition and expenditure process to determine whether the financial statements are materially misstated.a.List the two most important assertions in the revenue process.Describe an audit procedure related to each assertion that is frequently performed in this process.b.Describe the most important assertion in the acquisition and expenditure business process and the audit procedure most often used to gather evidence related to this assertion.

The Auditor Gathers Evidence in the Revenue and the Acquisition