In the confirmation of accounts receivable, the auditor would most likely:
A)send negative confirmations when the assessed risk of material misstatement is high.
B)seek to obtain positive confirmations for at least 50% of the total dollar amount of the receivables.
C)require confirmation of all receivables from agencies of the federal government.
D)require that confirmation requests be sent as soon as possible after fiscal year-end.

Question

Quizplus · Accepted Answer

Confirmation requests are typically sent as soon as possible after the fiscal year-end to ensure that the information is current and to maximize the response rate from confirmees, which helps in obtaining evidence regarding the existence and accuracy of accounts receivable balances.

In the Confirmation of Accounts Receivable, the Auditor Would Most