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A risk of material misstatement in accounts receivable associated with the accuracy balance-related ...

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A risk of material misstatement in accounts receivable associated with the accuracy balance-related ...

A risk of material misstatement in accounts receivable associated with the accuracy balance-related audit objective is that "sales recorded at the incorrect price result in revenue and accounts receivable that are over or under stated." Which of the following tests of detail of balances would respond to this risk?
A) select a sample of master file change forms and verify that all sales prices changes were appropriately authorized
B) use audit software to match sales invoice price details to authorized prices in the sales price master files
C) inquire of management with respect to the procedures used to update sales price master file
D) match shipping details for a sample of invoices to the invoice details, on an item by item basis

Textbook

Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Edition: 12^th

Authors: Arens, Elder, Beasley, Splettstoesser

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charleshardt

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More solutions for this book are available here

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npeelman Author

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Thanks for your help!!

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Helped a lot

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This helped my grade so much Perfect

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