The following audit procedures were performed in the audit of account receivables to satisfy specific balance-related audit objectives as discussed in Chapter 6.

1. Use positive confirmation to confirm all transactions over $100,000 in the accounts receivable.
2. Review accounts receivable trial balance for large and unusual receivables
3. Obtain aged trial balance for accounts receivable and trace the balance to the general ledger
4. Read the minutes of the board of directors meetings for any indication of pledged or factored accounts receivable
5. Inquire management on whether any receivables are pledged or factored
6. Review large sales returns and allowances before and after the balance sheet date to determine whether they are recorded in the correct period

The general balance-related audit objectives from Chapter 6 are also included.

Existence Cutoff

Completeness Detail tie-in

Accuracy Realizable value

Classification Rights and obligations

1. Identify the type of audit evidence used for each audit procedure.

b. Identify the general balance-related audit objective or objectives satisfied by each audit procedure.