Confirmation of Accounts Receivable Is Presumptively a Mandatory Audit Procedure

question 73

Essay

Confirmation of accounts receivable is presumptively a mandatory audit procedure.In performing this procedure,auditors use positive confirmation requests or negative confirmation requests or a combination of both.
a.Describe three conditions which should exist for the auditors to use the negative form of request.
b.If a response is not received to an initial positive confirmation request,describe the action that should be taken by the auditors,including a discussion of alternative auditing procedures.

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Definitions:

Brand Position

Refers to the distinct place a brand occupies in the minds of its target audience and its differentiation from competitors.

Brand Crisis

A situation where a company faces a critical threat to its brand image or reputation, often resulting in significant business impacts.

Personal Beliefs

are the individual's convictions or principles that guide their thoughts and actions.

Brand Position

Brand position refers to a brand's unique standing and value proposition in the marketplace as perceived by customers, often in relation to its competitors.