Audit procedure of recievables

This topic has 1 reply, 2 voices, and was last updated 15 years ago by Ken Garrett.

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November 11, 2010 at 4:28 pm #45890
Anonymous
Inactive
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is it possible or is it ok to test more assertion then these four in recievables
1) existence
2) rights and obligation
3) cut off
4) valuation

e.g to check occurrrence in any way or to check accuracy or completeness etc?
November 12, 2010 at 7:06 pm #70415
Ken Garrett
Keymaster
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completeness is also important for balance sheet figures.

Cut-off, accuracy, classification and understandability relate to presentation and disclosure, but, of course receivables are disclosed and presented, so these have to be tested also.
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