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Assess the purpose of a bank confirmation

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Reference no: EM132873766

Question 1: Summarize common internal controls over cash receipts and cash disbursements.

Question 2: Assess the purpose of a bank confirmation and why bank confirmations are an important piece of audit evidence. What are some errors and frauds that can occur in the revenue cycle?

Question 3: Review the process of confirming accounts receivable balances. Why is it important for auditors to understand revenue recognition rules?

Reference no: EM132873766

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