The Accounts ReceivableConfirmation Statistics working paper shown on the next page was prepared by an audit assistant

Question:

The “Accounts Receivable—Confirmation Statistics” working paper shown on the next page was prepared by an audit assistant for the 2018 audit of Lewis County Water Company, Inc., a continuing audit client. The engagement supervisor is reviewing the working papers. 

Required: 

Describe the deficiencies in the working paper that the engagement supervisor should discover. Assume that the accounts were selected for confirmation on the basis of a sample that was properly planned and documented on the working paper. 

LEWIS COUNTY WATER CO., INC. Accounts Receivable-Confirmation Statistics Index B-3 12/31/18 Dollars Accounts Amount Numb

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Auditing & Assurance Services A Systematic Approach

ISBN: 978-1260687637

11th Edition

Authors: William F Messier Jr, Steven M Glover, Douglas F Prawitt

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