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Prepare a partial audit program for a hypothetical commercial company's accounts receivable area. Assume that control risk is assessed at the maximum level. Specify the
Prepare a partial audit program for a hypothetical commercial company's accounts receivable area. Assume that control risk is assessed at the maximum level. Specify the financial statement assertions that we can use as broad audit objectives (and describe what each assertion means!) and identify one specific audit procedures applicable to each assertion. (Note that an audit procedure can be specified only once, so specify an audit procedure that is most associated with the assertion.)
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