Which of the following strategies most likely could improve the accuracy of the confirmation of accounts receivable?
A) Including a monthly statement of the customer's account with the confirmation.
B) Restricting the selection of accounts to be confirmed to those customers with relatively large balances.
C) Requesting customers to respond to the confirmation requests directly to the auditor by fax or e-mail.
D) Notifying the recipients that second requests will be mailed if they fail to respond in a timely manner.
Correct Answer:
Verified
Q66: When tracing a sample of shipping documents
Q67: Smith is engaged in the audit of
Q68: Assume you are working on a 12/31
Q69: Explain how revenue recognition is important to
Q70: Which of the following most likely would
Q72: When reviewing bank confirmations for any liens
Q73: What inherent risk factors should an auditor
Q74: When comparing prices and terms on a
Q75: Assume an account receivable confirmation is returned
Q76: Identify whether the following tests are tests
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents