ACC 614 ACC614 WEEK 4 DQ 1 - CONFIRMATION OF TRADE ACCOUNT RECEIVABLES - ASHFORD
ACC 614 Week 4 Discussion 1 Confirmation of Trade Account Receivables
Confirmation of Trade Account Receivables [CLOs: 1, 3]. 1st Post Due by Day 3. L. King, CPA, is auditing the financial statements of Cycle Company, a client that has receivables from customers arising from the sale of goods in the normal course of business. King is aware that the confirmation of accounts receivable is a generally accepted auditing procedure. Referencing this week’s lecture, please answer the following questions:
• Under what circumstances could King justify omitting the confirmation of Cycle’s accounts receivable?
• In designing confirmation request, what factors are likely to affect King’s assessment of the reliability of
confirmations that King sends?
• What alternative procedures could King consider performing when replies to positive confirmation
requests are not received?
Respond to at least two of your classmates’ posts.
Respond to at least two of your classmates’ posts.
No comments:
Post a Comment