L. King, CPA is auditing the financial statements of Cycle Company, a client that has...
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Accounting
L. King, CPA is auditing the financial statements of Cycle Company, a client that has receivables from customers arising from the sale of goods in the normal course of business. King is aware that the confirmation of accounts receivable is generally accepted auditing procedure. In designing confirmation requests, what factors are likely to affect King's assessment of the reliability of confirmations that King sends? Identify two alternative procedures King could consider performing when replies to positive confirmation requests are not received?
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