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Author Question: The most reliable evidence from confirmations is obtained when they are sent (Read 63 times)

bvyeehaw

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Question 1

The most effective audit evidence gathered for accounts receivable is the
◦ detail tie-in of the records.
◦ analysis of the allowance for doubtful accounts.
◦ confirmation of accounts receivable.
◦ examination of sales invoices.

Question 2

The most reliable evidence from confirmations is obtained when they are sent
◦ as close to the balance sheet date as possible.
◦ at various times throughout the year to different segments of the sample, so that the entire sample is representative of account balances scattered throughout the year.
◦ several months before the year-end, so the auditor will have adequate time to perform alternate procedures if they are required.
◦ at various times throughout the year to the same group in the sample, so that the sample will not have a time bias.


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Marked as best answer by bvyeehaw on Aug 21, 2022

AarionnaH

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bvyeehaw

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


helenmarkerine

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Reply 3 on: Yesterday
Excellent

 

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