List and define the audit procedures for obtaining audit evidence

The types of audit procedures and their definitions are: (1) Inspection of records or documents consists of examining internal and external records or documents that are in paper form, electronic form, or other media. (2) Inspection of tangible assets consists of physical examination of tangible assets. (3) Observation consists of watching a process or procedure being performed by others. (4) Inquiry consists of seeking information of knowledgeable persons, both financial and nonfinancial, within the entity or outside the entity. (5) Confirmation represents audit evidence obtained by the auditor from a third party in paper form or by electronic or other medium. (6) Recalculation consists of checking the mathematical accuracy of documents and records either manually or electronically. (7) Reperformance is the auditor's independent execution of procedures or controls that were originally performed as part of the entity's internal control, either manually or through the use of CAATs. (8) Analytical procedures consist of evaluations of financial information through analysis of plausible relationships among both financial and nonfinancial data. (9) Scanning is the review of accounting data to identify significant or unusual items.