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How is aged accounts receivable statement used by auditor

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Reference no: EM132737571

Problem 1: Auditors ordinarily send a standard bank confirmation to all banks with which the client has done business during the year under audit, regardless of whether the client has closed its account. Provide one reason why an auditor would like to embark on this.

Problem 2: The audit working papers often include an auditee - prepared, aged accounts receivable as of the balance sheet date. How is the aged accounts receivable statement used by the auditor?

Reference no: EM132737571

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