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  • Q A Audit of Receivables and Sales

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    Asniah M. Rataban
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    Auditing receivables and revenue represents significant risk because inaccurate recording can materially misstate the financial statements. The first step before substantive testing of any account is to obtain an understanding of the client's business and industry, assess risks of material misstatement, and design an appropriate audit program.

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    Auditing receivables and revenue represents significant risk because inaccurate recording can materially misstate the financial statements. The first step before substantive testing of any account is to obtain an understanding of the client's business and industry, assess risks of material misstatement, and design an appropriate audit program.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    14 views1 page

    Q A Audit of Receivables and Sales

    Uploaded by

    Asniah M. Rataban
    Auditing receivables and revenue represents significant risk because inaccurate recording can materially misstate the financial statements. The first step before substantive testing of any account is to obtain an understanding of the client's business and industry, assess risks of material misstatement, and design an appropriate audit program.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    ACTG20-AUDITING AND ASSURANCE CONCEPTS AND APPLICATION 1

    Q & A AUDIT OF RECEIVABLES AND SALES

    1. Why do audit of receivables and revenue


    represents significant risk?
    2. what is the first thing to do before
    performing the substantive testing in any
    account
    3. -
    4.
    5.
    6.

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