Which of the following substantive procedures should auditors ordinarily perform regarding subsequent events? a. Compare the latest
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a. Compare the latest available interim financial statements with the financial statements being audited.
b. Send second requests to the client’s customers who failed to respond to initial accounts receivable confirmation requests.
c. Communicate material weaknesses in internal control to the client’s audit committee.
d. Review the cutoff bank statements for several months after the date of the financial statements.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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