Does the south executive statement suggest

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Problem 1. Under what circumstances is it acceptable to confirm accounts receivable prior to the statement of financial position date?

Problem 2. During the audit of South Technologies, Inc., the auditors sent confirmation request to customers whose accounts had been written off as uncollectible during the year under audit. An executive of South protested, saying: "You people should be verifying that the receivables on the books are collectible. We know the ones we wrote off are not good." Required: -What purpose, if any, is served by this audit procedure? -Does the South executive's statement suggest some misunderstanding of audit objectives? Explain.

Reference no: EM133004607

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