d. For some time, Urgent has based its allowance for doubtful accounts on an aging analysis and the results have been historically accurate. Below, you have been provided with the client's list of customer balances in excess of 90 days. These are the accounts that the client will consider when calculating the allowance for doubtful accounts as of 12/31/2017. Perform an aging analysis using IDEA to assess the completeness and accuracy of Urgent's list of customer balances in excess of 90 days. Urgent Medical Devices Analysis of >90-Day Delinquent Accounts Receivable As of December 31, 2017 SalesOrderID InvoiceDate 3236 7/4/2017 TotalDue 56,251.34 3241 7/9/2017 73,450.67 3422 9/5/2017 73,450.67 3466 9/21/2017 59,932.09 3490 9/27/2017 54,851.15 317,935.92 Based on your analysis, does the client's listing agree to your analysis completed in IDEA? Do you have any concern with the client's process for identifying the total amount of significantly delinquent accounts? You may think broadly, beyond mechanical accuracy, in considering the sufficiency of their process for identification of delinquent accounts. 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG international Cooperative "KPMG International"), a Swiss entity. All rights reserved. NDPPS 741662 According to Urgent's unaudited trial balance, the balance for Allowance for Doubtful Accounts is $310,000. Does the test performed above provide sufficient appropriate evidence to support a conclusion on the valuation of accounts receivable? If not, what additional testing would you recommend to reach an audit conclusion for this relevant assertion? d. For some time, Urgent has based its allowance for doubtful accounts on an aging analysis and the results have been historically accurate. Below, you have been provided with the client's list of customer balances in excess of 90 days. These are the accounts that the client will consider when calculating the allowance for doubtful accounts as of 12/31/2017. Perform an aging analysis using IDEA to assess the completeness and accuracy of Urgent's list of customer balances in excess of 90 days. Urgent Medical Devices Analysis of >90-Day Delinquent Accounts Receivable As of December 31, 2017 SalesOrderID InvoiceDate 3236 7/4/2017 TotalDue 56,251.34 3241 7/9/2017 73,450.67 3422 9/5/2017 73,450.67 3466 9/21/2017 59,932.09 3490 9/27/2017 54,851.15 317,935.92 Based on your analysis, does the client's listing agree to your analysis completed in IDEA? Do you have any concern with the client's process for identifying the total amount of significantly delinquent accounts? You may think broadly, beyond mechanical accuracy, in considering the sufficiency of their process for identification of delinquent accounts. 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG international Cooperative "KPMG International"), a Swiss entity. All rights reserved. NDPPS 741662 According to Urgent's unaudited trial balance, the balance for Allowance for Doubtful Accounts is $310,000. Does the test performed above provide sufficient appropriate evidence to support a conclusion on the valuation of accounts receivable? If not, what additional testing would you recommend to reach an audit conclusion for this relevant assertion
