Question 4 You are the audit senior for Sitwell Ltd, which distributes office furniture and has been a client of your audit firm for a number of years. Sitwell's primary market consists of small businesses and schools. You have a junior associate assisting with the accounts receivable circularization. The junior associate presented you the following results for three confirmation responses received and asks for your guidance on how to proceed. Confirmation Balance per Balance per Reason for the tracking number Accounts confirmation difference Receivable Ledger response $ $ 55 250,000 200,000 Cash in transit 63 555,000 450000 Goods not received at year end 68 680,000 570,000 Disputed invoice Required a) Describe the procedures the junior associate should perform on each of these responses. (6 marks) b) ISA 505, External Confirmations, states that when using external confirmation procedures, the auditor shall maintain control over external confirmation requests." Required i. State what is involved in maintaining control over external confirmation request (2 marks) i. List FOUR audit assertions that the external confirmation supports. (2 marks) ii. State how data visualisation could be used in the audit of the revenue and receivables cycle. (2 marks)