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:

Feedback

Information provided about actions or behavior which can be used as a basis for improvement.

Face Value

The apparent worth or truth of something, taken without questioning or seeking deeper understanding.

Education Records

Documents and information about a student's educational history and performance, maintained by an educational institution.

FERPA

The Family Educational Rights and Privacy Act, a federal law that protects the privacy of student education records.