The confirmation of customers accounts receivable rarely provides reliable evidence about the completeness assertion because a. Many
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The confirmation of customers’ accounts receivable rarely provides reliable evidence about the completeness assertion because
a. Many customers merely sign and return the confirmation without verifying its details.
b. Recipients usually respond only if they disagree with the information on the request.
c. Customers may not be inclined to report understatement errors in their accounts.
d. Auditors typically select many accounts with low recorded balances to be confirmed.
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Related Book For
Auditing Concepts For A Changing Environment With IDEA Software
ISBN: 9780324180237
4th Edition
Authors: Larry E. Rittenberg, Bradley J. Schwieger
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