Important audit procedures for the balance accounts receivable usually include the following: a Confirm account balances with
Question:
Important audit procedures for the balance accounts receivable usually include the following: a Confirm account balances with selected customers. b Inquire of management and read agreements and minutes for liens or pledges of accounts receivable.
Required:
a. Identify the financial statement assertions and related specific audit objectives that each of these procedures contributes toward achieving.
b. Identify the assertions and related audit objectives for accounts receivable to which these procedures do not contribute.
c. What audit procedures might be used to achieve the objectives identified in b above?
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Kirti Kaushal
Having experience of more than 10 years is good enough to coach my students. Currently, I am working as an active supervisor of ACCA students. In my career, I helped students in financial accounting, management accounting, cost accounting, financial reporting, taxation, and audit. I also helped students publish their articles or papers in good journals. I also helped students with thesis and objective writing.
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Related Book For 
Auditing Concepts And Methods A Guide To Current Auditing Theory And Practice
ISBN: 9780070099999
5th Edition
Authors: Mcgraw-Hill
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