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Author Question: If the client's internal control for recording sales returns and allowances is evaluated as ineffective, (Read 51 times)

Gabby

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on: Aug 21, 2022

Question 1

If material, all of the following are required to be separately disclosed in the financial statements except for
◦ accounts receivable from officers.
◦ accounts receivable from affiliates.
◦ sales and assets for different business segments.
◦ sales for the last ten days of the fiscal year.

Question 2

If the client's internal control for recording sales returns and allowances is evaluated as ineffective,
◦ a larger sample may be needed to verify cutoff.
◦ sampling is not appropriate.
◦ all sales returns must be traced to supporting documentation.
◦ all sales returns must be confirmed with the customer.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by Gabby on Aug 21, 2022

my33251

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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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Gabby

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Reply 2 on: Aug 21, 2022
Thanks for the timely response, appreciate it

diana chang

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

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