Which of the following procedures will an auditor most likely perform for year-endaccounts receivable confirmations when the auditor did not receive replies to secondrequests?(1) Review the cash receipts journal for the month prior to year end.(2) Intensify the study of internal control concerning the revenue cycle.(3) Inspect the shipping records documenting the merchandise sold to the debtors.(4) Increase the assessed level of detection risk for the existence assertion.

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A:

Q: comment on the audit program followed by Chambers with respect to notes receivable only

A:

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A: (3) Prepare year-end bank reconciliations

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A: Performing the Analytical procedures provides the highest-quality evidence regarding the Valuation…

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A:

Q: Which of the following substantive procedures would auditors most likely perform to obtain evidence…

A: Answer:   Option b

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A: Please see the next step for the solution

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A: Given: To explain the correct option among the given options as,

Q: type of audit report

A: Audit report is the document issued by the auditor to express his opinion on the true and fair view…

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A: Assertion of Existence: Assets or liabilities of the company exist at a given date, and recorded…

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A: Audit Evidence: It refers to the information that the auditor uses in arriving at a conclusion on…

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A: Substantive audit procedures refer to audit processes performed by the auditor to detect material…

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A: Audit Evidence: Audit evidence is the proof in the form of receipts, invoice and other documents…

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A:

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A:

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A: a.

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A:

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Fraud

Fraud in accounting is the planned manipulation of financial documents to make a false appearance of corporate financial health. Moreover, it includes an employee, accountant, or the company itself misleading investors and shareholders.