You have been put in charge of accounts receivable

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Reference no: EM13370366

You have been put in charge of accounts receivable confirmation process. You have been asked to prepare a memo explaining the process and address concerns using citations from authoritative auditing literature. Your client is a public company; thus, your guidance will come from the PCAOB. You have been asked to address how the testing of controls in revenue and cash receipts areas impacted the confirmation process. You should address timing of sending confirmations and reliability of confirmations. Address the issue of using internal auditors in future. Address what happens if there is no response to your confirmation. Address if you will accept electronic replies. This process could be described in a well written memo to auditor partner not to exceed two pages. Grade is based on communication skills and correctness.

Reference no: EM13370366

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