1. Discuss the main controls that should be in place over the cash receipts function.
2. What are the primary considerations in assigning materiality to accounts receivable balances ?
3. Identify some factors that contribute to the high level of inherent riskin sales and receivables.
4. When should an auditor confirm accounts receivable? What should an auditor do to ensure control over confirmation of accounts receivable?
5. How can test data be used for testing controls over the proccesing of sales transactions ?