subject: auditing

4. Problems (1) The following are audit objectives applied to the audit of accounts receivable: (a) Existing accounts receivable are included in the accounts receivable balance on the balance sheet date. (b) Accounts receivable are properly classified when they are recorded in accounting system. (c) Sales transactions in the sales cycle are recorded in the proper period. (d) Accounts receivable representing the accounts receivable balance on the balance sheet date agree with related subsidiary ledger amounts, and the total is correctly added and agrees with the general ledger. (e) The top 10 accounts receivable subsidiary accounts are properly disclosed in financial statement notes. (f) The accounts whose age exceed three years are all included in the disclosure in financial statement notes. (g) Any allowances for accounts receivable discounts is taken accurately Required: A. Explain the relationships between financial statements assertions and overall audit objectives. B. For each specific audit objective. identify the appropriate financial statements assertion ( identify the different areas and the relevant assertion) C. For each specific audit objective, figure out the specific audit procedures to obtain evidences