Question

Assume that you have been assigned to the audit of Keystone after audit planning has occurred. Review the planning information on pages 235–242 and the audit program for the accounts receivable and revenue (B-6 on pages 495–496). The manager on the engagement has given you the task of reviewing the monthly revenue report on page 498 (B-11).
a. Based on your review of the report, describe any unusual relationships that might indicate a risk of misstatement of revenues based on your knowledge of the company derived from a review of the information on pages 235–242.
b. Identify any procedures on the audit program for receivables and revenue that might address the risk(s) identified in (a).
c. Design two other procedures that would address the risk(s) identified in (a).



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  • CreatedOctober 27, 2014
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