You are involved with the audit of Jelco Company for year 1 and have been asked to consider the confirmation reply results indicated below. For each confirmation reply as to the proper action to be taken from the following possible actions:
(1) Exception; propose an adjustment.
(2) Send a second confirmation request to the customer.
(3) Examine shipping documents and/or subsequent cash receipts.
(4) Verify whether the additional invoices noted on the confirmation reply pertain to the year under audit or the subsequent year.
(5) Not an exception, no further audit work isnecessary.

  • CreatedOctober 27, 2014
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