While Performing Interim Audit Procedures of Accounts Receivable, Numerous Unexpected

question 41

Multiple Choice

While performing interim audit procedures of accounts receivable, numerous unexpected errors are found resulting in a change of risk assessment. Which of the following audit responses would be most appropriate?

• A)Move detailed analytical procedures from year end to interim.
• B)Increase the dollar threshold of vouching customer invoices.
• C)Send negative accounts receivable confirmations instead of positive accounts receivable confirmations.
• D)Use more experienced audit team members to perform year-end testing.

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Definitions:

Benefits

Advantages or improvements to one's condition or situation, often provided by employers, insurance, or social programs.

Affect Events Theory

A psychological model explaining how workplace events can influence employees' moods and emotions, subsequently affecting job performance and satisfaction.

Job Satisfaction

The extent to which an individual feels content, fulfilled, and positive about their job and work environment.

Turnover

The rate at which employees leave a company and are replaced by new employees, often used as a metric for organizational stability or employee satisfaction.