If the Auditor Failed to Confirm Receivables When That Should

question 21

Multiple Choice

If the auditor failed to confirm receivables when that should have been done and it may be too late to confirm now,what should the auditor do?

• A)Issue an adverse opinion.
• B)Extend the previous work done on subsequent collections to help determine that the receivables existed and were properly valued at the balance sheet date.
• C)Automatically decide that the previously issued audit report cannot be supported in light of the omitted procedures.
• D)Issue a disclaimer of opinion.

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Definitions:

Supply Chain Manager

A professional responsible for overseeing and managing a company's overall supply chain and logistics strategy to maximize efficiency and productivity.

Customer Relationship Management (CRM)

A technology-driven approach to managing a company's interactions with current and potential customers.

Marketing Activities

Encompasses various actions and strategies companies employ to promote and sell their products or services, including advertising, sales promotions, and public relations.

B2B

Business-to-Business, a model involving the exchange of products, services, or information between businesses, rather than between businesses and consumers.