Yue is auditing the accounts receivable for Slawson & Slawson, LLP, a large law partnership. The managing
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a. Describe the type and format of audit report that should be issued in this case.
b. Explain the type of evidence that Yue was trying to obtain by confirming the law firm’s account receivable balances, and the assertion(s) and the specific audit objectives that this evidence relates to.
c. Why do you think it was not possible to obtain this evidence by alternative means?
Audit Report
The audit report is issued by a certified public accountant who is appointed by the shareholders to provide assurance upon the truth and fairness of the financial statements prepared by the managers of the company. Audit report contains the... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For
Auditing An International Approach
ISBN: 978-0071051415
6th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
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