Question: Explain why Accounting standards require that companies provide footnote disclosures that enable a reader to understand the nature, timing, amount, and uncertainty surrounding revenue and

Explain why Accounting standards require that companies provide footnote disclosures that enable a reader to understand the nature, timing, amount, and uncertainty surrounding revenue and cash flows arising from contracts with customers. Provide an example of an internal control that the client can use to address this requirement and an example of a test of control the auditor can perform to test the operating effectiveness of the control.

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