You are the audit senior on the Victoria waterworks und following information about the accounts receivable ???,we coat dme . The AR turnover ratio was eight times for the current year and twelve times for the prior year. The AR balance has increased from $52,340 in the prior year to $176,983 in the current year . in an attempt to boost sales, Victoria Waterworks Ltd loosened its credit granting policies during the year and also extended payment terms for its customers Required: Identify the risks for accounts receivable at Victoria Waterworks Lnd and the nelated assertions. Document the audit procedures to address the risks Question 3 Explain the difference between vouching and tracing You are the audit senior on the Victoria waterworks und following information about the accounts receivable ???,we coat dme . The AR turnover ratio was eight times for the current year and twelve times for the prior year. The AR balance has increased from $52,340 in the prior year to $176,983 in the current year . in an attempt to boost sales, Victoria Waterworks Ltd loosened its credit granting policies during the year and also extended payment terms for its customers Required: Identify the risks for accounts receivable at Victoria Waterworks Lnd and the nelated assertions. Document the audit procedures to address the risks Question 3 Explain the difference between vouching and tracing