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Author Question: Which audit procedure would be used to test for the existence balance-related audit objective? (Read 59 times)

Caileynorton

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on: Aug 21, 2022

Question 1

The auditor is reviewing the receivables listed on the aged trial balance for notes and related party receivables. Which balance-related audit objective is he trying to satisfy?
◦ detail tie-in
◦ existence
◦ classification
◦ All of these

Question 2

Which audit procedure would be used to test for the existence balance-related audit objective?
◦ Trace ten accounts from the aged trial balance to the accounts receivable master file.
◦ Confirm accounts receivable.
◦ Review large sales returns and allowances before and after the balance sheet date.
◦ Trace ten accounts from the trial balance to the accounts on the master file.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by Caileynorton on Aug 21, 2022

kaynelson17

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Caileynorton

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Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

olderstudent

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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