Question
11B2. Assume that you have been assigned to the audit of Keystone after audit planning has occurred. Review the planning information on pages 240-247 and
11B2. Assume that you have been assigned to the audit of Keystone after audit planning has occurred. Review the planning information on pages 240-247 and the audit plan for the accounts receivable and revenue (B-6 on pages 503504). The manager on the engagement has given you the task of reviewing the monthly revenue report on page 506 (B-11). a. Based on your review of the report, describe any unusual relationships that might indicate a risk of misstatement of revenues based on your knowledge of the company derived from a review of the information on page 502. b. Identify any procedures on the audit plan for receivables and revenue that might address the risk(s) identif ed in (a).
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