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Completing the Tests in the Sales and Collection Cycle: Accounts Receivable - page 21 / 34

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©2010 Prentice Hall Business Publishing, Auditing 13/e, Arens//Elder/Beasley

16 - 21

Confirmations Are Required, Except When:

1.Accounts receivable are immaterial.

2.The auditor considers confirmations

ineffective evidence because response

rates will likely be inadequate or unreliable.

3.The combined level of inherent risk and

control risk is low and other substantive

evidence can be accumulated to provide

sufficient evidence.

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