You Are Auditing SBT,which Has a December 31^st Year-End

question 4

Essay

You are auditing SBT,which has a December 31^st year-end.On December 24^th,the person responsible for processing receiving reports and recording the receipt of inventory became very ill and was out of the office for a week.Due to the company's small staff and the holiday season,a number of the receiving reports were not processed on a timely basis.As an auditor,on which assertion would you place a high importance for this entity and how would you test for it?

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Definitions:

Paralegal Education

Formal education or training programs designed to prepare individuals for careers as paralegals or legal assistants, supporting the legal profession.

Community College

A two-year educational institution providing higher education and lower-level tertiary education, granting certificates, diplomas, and associate degrees.

Four-Year College

An institution of higher education that offers undergraduate programs usually leading to a bachelor's degree.

Business School

An educational institution or part of an institution that teaches topics related to business management, administration, finance, and marketing among others.