Research PCAOB auditing standards (which can be found on the PCAOB's website - www.pcaobus.org) related to the
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(a) Based on what you learn, provide an assessment of deficiencies in the confirmation approach Satyam's auditors took related to cash and accounts receivable.
(b) Do auditing standards require the use of confirmations in the audits of cash balances and accounts receivable balances?
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For
Auditing Cases An Interactive Learning Approach
ISBN: 978-0133852103
6th edition
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
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