Auditing and Assurance: Concepts and Application 1

Audit of Receivables
Auditing and Assurance: Concepts and Application 1

Management assertions on
Receivable
- Presentation and disclosures
- Existence and occurrence
- Rights and obligations
- Completeness and cut-off
- Valuation, Allocation & Accuracy
Auditing and Assurance: Concepts and Application 1

Management assertions on Audit Objectives

Receivable
- Presentation and disclosures
- Existence and occurrence
- Rights and obligations
- Completeness and cut-off
- Valuation, Allocation & Accuracy
Determine whether receivables
are presented in accordance with
the applicable accounting and
reporting standards
Auditing and Assurance: Concepts and Application 1

Management assertions on Audit Objectives

Receivable
- Presentation and disclosures Determine whether the receivable
- Existence and occurrence balance at year-end exists and
- Rights and obligations related transaction occurred
- Completeness and cut-off
- Valuation, Allocation & Accuracy