Chat with AI
Accounting Information Systems 9th Edition by James Hall
Edition 9ISBN: 978-1133934400Accounting Information Systems 9th Edition by James Hall
Edition 9ISBN: 978-1133934400 Exercise 48
RISK IDENTIFICATION AND PLAN OF ACTION
As the manager of the external audit team, you realize that the embedded audit module writes material invoices only to the audit file for the accounts receivable confirmation process. You are immediately concerned that the accounts receivable account may be substantially overstated this year and for the prior years in which this EAM was used.
Required
Explain why you are concerned because all "material" invoices are candidates for confirmation by the customer. Outline a plan for determining if the accounts receivable are overstated.
As the manager of the external audit team, you realize that the embedded audit module writes material invoices only to the audit file for the accounts receivable confirmation process. You are immediately concerned that the accounts receivable account may be substantially overstated this year and for the prior years in which this EAM was used.
Required
Explain why you are concerned because all "material" invoices are candidates for confirmation by the customer. Outline a plan for determining if the accounts receivable are overstated.
Explanation
Verified
Verified
RISK IDENTIFICATION AND PLAN OF ACTION:
...
Accounting Information Systems 9th Edition by James Hall
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
