List the transaction-related audit objectives for the audit of sales transactions. For each objective, state one internal control that the client can use to reduce the likelihood of misstatements.

Design and Performance Format Audit Procedures

1. What three types of authorizations are commonly used as internal controls for sales?
Explain the importance of each.
2. List the transaction-related audit objectives for the audit of sales transactions. For each objective, state one internal control that the client can use to reduce the likelihood of misstatements.

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