When accounts receivable are confirmed at an interim date, auditors need not be concerned witha. Obtaining a summary of receivables transactions from the interim date to the year-end date.b. Obtaining a year-end trial balance of receivables, comparing it to the interim trial balance, and obtaining evidence and explanations for large variations. c. Sending negative confirmations to all customers as of the year-end date.d. Considering the necessity for some additional confirmations as of the balance sheet date if balances have increased materially

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Q: n auditor decided to render sales cut-off as part of auditing an audit client's accounts receivable.…

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A: Ans. Positive confirmation is an auditing enquiry that requires the customer to confirm the accuracy…

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Q: Which of the following statements is invalid relating to confirmation of accounts receivable?  a. A…

A: Solution: Positive confirmation means inquiry that requires response from customer confirming the…

Q: In auditing accounts receivable, the negative form of confirmations request is used when A. Response…

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Q: financial statement assertion for accounts receivable

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A: Cut-off arrangements are the precautions taken by the business entity to keep the business…

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Q: During the confirmation of accounts receivable, an auditor receives a confirmation via the client’s…

A:

Q: An auditor is required to confirm accounts receivable if the accounts receivable balances area.…

A:

Q: To allocate the preliminary estimate of materiality to the accounts, the auditor might consider A.…

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A: Hi student Since there are multiple subparts, we will answer only first three subparts.

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A:

Q: Identify the primary audit objectives that auditors hope to accomplish by confirming a client's…

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A:

Q: Which of the following substantive procedures would most likely help an auditor determine whether…

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Q: The following are typical questions that might appear on an internal control questionnaire for…

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Q: Assume that you will be unable to inspect the securities owned by the client on the balance sheet…

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Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.