Assume you are performing external confirmation procedures on trade receivables as of December 31, 2021. You reviewed returned confirmations and performed additional procedures, if necessary. Which of the following is an exception indicative of a potential misstatement?

I. A variance between the recorded receivable amount and confirmed amount below AMPT. II. Lack of response to a positive confirmation where the engagement team was unable to perform alternative procedures. III. A confirmation had to be sent again because the initial returned confirmation was signed but not completed; the resent confirmation was returned and agreed to the recorded amount. IV. A positive confirmation was not returned and, instead, the engagement team vouched the customer invoice to the underlying sales document and subsequent cash receipt as alternative procedures.

I and II

I and IV

II and III

III and IV