A set of audit procedures prepared to test assertions for a component of the financial statements
- Audit program for accounts rec:
- (header)Management assertions/ examples of audit procedures.
- *Existence/ confirm receivables
*Rights & oblig
/ inquire if receivables have been sold or pledged.
controlling acct w/total of subsidiary acct or select shipping docs prior to y/e and ensure sales recorded.
basically it is a guide of how to test specific assertions for a specific acct.
*Presentation and disclosure
/look for amounts due from related parties and evaluate recvbls for footnote disclosures.