Accounting · Audit Evidence and Procedures
Which of the following audit procedures provide evidence regarding the ACCURACY, VALUATION, and ALLOCATION of share capital presented in Northgate Co's financial statements for the year ended 31 May 20X5? (1) Review board meeting minutes to identify matters relating to share capital, including ensuring proper authority was given for the rights issues. (2) Agree the number of authorised shares disclosed in the notes to the financial statements to Northgate's constitution documents. (3) Agree closing share capital balances in the trial balance to statutory records and the draft financial statements for the year ended 31 May 20X5. (4) Inspect the bank ledger account to confirm cash receipts from the rights issue have been completely and accurately recorded.
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