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Will send conformations to customers the year

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Reference no: EM132574819

You are an auditor for Smith and Son Wholesale Products Inc. As part of accounts receivable, your client has provided you an electronic file representing its accounts receivable as of its fiscal year-end (12/31/2018). The file includes the customer name, customer address, customer number, sales invoice number, sales invoice date, and amount. The total accounts receivable balance is material and historically you have confirmed certain customer accounts with a moderately decent response rate.

Required:

Please answer the following questions independently of each other:

Question 1: Will you send conformations to customers this year and why?

Question 2: If you receive a confirmation back from a customer who indicates that the amount has already been paid... do you consider this an exception in your testing? Why or why not?

Question 3: For any initial confirmation requests that are not returned, list the procedures you would need to complete to achieve the testing objective. (In order to be comfortable over the assertions).

Reference no: EM132574819

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