Question 2. Internal control tests of accounts receivable (6 points)

The auditor tested internal controls of the sales and collection cycle and made the following assessments:

1. Please determine the audit objective for accounts receivable corresponding to each transaction-based audit objective in column V and the associated risk level in column VI. Please provide your answers in the table above. (4 points)

2. Please give an example of an audit procedure that can help the auditor to achieve the following audit objectives (2 points)

a. Existence of accounts receivable

b. Cutoff of credit sales

for accounts Occurrence High Accounts receivable Cash Completeness HighAccounts receivable Sales collection