report this incident to the audit committee, as this may be a possible instance of fraud- fictitious payroll. Question 8 (1 point) As part of the audit of Accounts Receivable, you have requested positive confirmation of all high value amounts. You have received the following response from a customer- "Our amount owing to you has been fully paid by cheque mailed three weeks ago. Why are your records always out of date because this is a frequent issue- why are you not recognizing our payments promptly?"| Which of the following statements is true? This is probably a timing issue, but the results need to be compared with other confirmation responses. This is a potentially serious issue, and may be evidence of lapping of accounts receivable payments. This is a potentially serious issue, and may be evidence of kiting of bank deposits This is probably a timing issue, and is not a serious audit concern Question 9 (1 point) Which one of the foll Stop sharing s part of the audit