Audit Program #1 - Apple Blossom Cologne Company Audit...

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Apple Blossom Cologne Company Audit Program for Accounts Receivable and Bad Debts AP - 1 W/P Ref Initials Existence/Occurrence 1. Obtain or prepare an aged trial balance of accounts receivable as of year-end. 2. Trace individual account balances to accounts receivable subsidiary ledger 3. Request positive confirmations for all accounts with balances over $5,000; request negative confirmations for all other accounts (W-4; W-6). 4. Investigate all confirmations returned undelivered by the post office. 5. Investigate all exceptions reported on confirmations. 6. If no reply is received on positive confirmations send second requests. Consider using alternative procedures to determine existence of account. Completeness 7. Examine the sales register and shipping records for a few days before and after the balance sheet date to determine proper sales cutoff. Rights and Obligations 8. Investigate accounts previously written off (W-2).
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This note was uploaded on 05/06/2009 for the course ACCT ACCT2 taught by Professor Asifbashir during the Spring '08 term at Aarhus Universitet.

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