Confirmations of Receivables at an Interim Date When Internal Controls

question 62

Essay

Confirmations of receivables at an interim date When internal controls are strong,the auditor may decide to confirm receivables before year end.Roll-forward procedures are then used to obtain adequate evidence for the roll-forward period.Discuss why the auditor would want to confirm receivables before balance sheet date,the risks involved,and at least three of the roll-forward procedures that the auditor performs to gain assurance on the roll-forward period.

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Definitions:

Sagas

Long, detailed narratives about the exploits and adventures of historical or legendary figures, often emphasizing heroic feats.

Organizational Mission

The organizational mission is a statement that outlines an organization's purpose, core values, and fundamental goals, guiding its strategies and operations.

Shared Meanings

Common understandings or interpretations among a group or culture about symbols, language, or behaviors, facilitating communication and cohesion.

Organizational Culture

The set of shared beliefs, values, norms, and practices that influences the behavior of members of an organization.