Adapted from Wiley CPA Review Dana an auditor for the
[Adapted from Wiley CPA Review] Dana, an auditor for the audit firm C&C, recently finished up testing controls relating to management’s assertion concerning the completeness of sales transactions. In her audit work papers, Dana included the following:
“I inspected the entity’s reports of prenumbered shipping documents that have not been recorded in the sales journal”
“In the course of my testing, I have found 0 items that have been sold but have not recorded in the sales journal.”
“Since testing was performed without exception, I have determined that the controls to address the completeness of sales transactions are operating effectively.”
Which essential element of AS 3’s documentation requirements did Dana omit from her documentation?

Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help