Omitting to Record Sales Case The auditor is considering confirming zero-balance accounts from the auditees...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Omitting to Record Sales Case
The auditor is considering confirming zero-balance accounts from the auditees accounts receivable subledger to provide evidence concerning the completeness assertion for accounts receivables and sales
Required:
a. What are the advantages and limitations of this procedure?
b. How would the decision to use this procedure relate to the auditors control assessment? Discuss the kinds of controls the auditee would be expected to have and the procedures the auditor could use to test them.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
