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Adem Hassen, CPA, was auditing ABC Company. Adem sent positive accounts receivable confirmations to a number of ABC customers. He received a number of returned confirmations marked "we do not confirm balances because we are on voucher system."
Required
Question 1: List three audit procedures that Adem might use to ensure the validity of these accounts.
Question 2: Identify and describe the two forms of account receivable confirmation requests and indicate what factors Adem should consider in determining when to use each.
Question 3: Assume Adem has received a satisfactory response to the confirmation requests. Describe how Adem could evaluate collectability of the trade account receivable.
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