The summary of the results from confirming accounts receivable contained in the auditor's working papers would not normally provide statistical data on the:
A) market value of the confirmation sample.
B) number of confirmations sent and responses received.
C) proportion of the population total covered by the sample.
D) relationship between the audited and book values of items included in the sample.
E) dollar value of confirmations sent.

Question

Quizplus · Accepted Answer

The market value of the confirmation sample is not typically relevant for the purpose of confirming accounts receivable, which focuses on verifying the existence and accuracy of amounts owed to the company by its customers, not the market value of those receivables.

The Summary of the Results from Confirming Accounts Receivable Contained