Beta, Inc., is an affiliate of an audit client and is audited by another firm of auditors.

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Beta, Inc., is an affiliate of an audit client and is audited by another firm of auditors. Which of the following is most likely to be used by the auditor to obtain assurance that all guarantees of the affiliate's indebtedness have been detected?

a. Examine supporting documents for all entries in intercompany accounts.

b. Obtain written confirmation of indebtedness from the auditor of the affiliate.

c. Review client minutes and obtain a representation letter.

d. Send a bank confirmation request to all of the affiliate's lender banks.

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Auditing An Assertions Approach

ISBN: 9780471134213

7th Edition

Authors: G. William Glezen, Donald H. Taylor

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Question Posted: May 08, 2024 01:34 AM

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Beta, Inc., is an affiliate of an audit client and is audited by another firm of auditors.

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Auditing An Assertions Approach

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