Question: when testing the occurrence objective for sales, the auditor is concerned with the possibility of three types of misstatements. One type is sales being included

when testing the occurrence objective for sales, the auditor is concerned with the possibility of three types of misstatements. One type is sales being included in the journal for which no shipment was made. Discuss the other two types of misstatements. Also describe the misstatements that the auditor is looking for while testing other audit objectives of accounts receivable and revenue

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!