The auditor must be knowledgeable about the statement presentation and disclosure requirements for accounts receivable and sales under GAAP.

Question

Quizplus · Accepted Answer

Auditors must understand the presentation and disclosure requirements under Generally Accepted Accounting Principles (GAAP) to ensure that the financial statements they are auditing are prepared correctly, including the specific areas of accounts receivable and sales.

The Auditor Must Be Knowledgeable About the Statement Presentation and Disclosure