What two alternative audit steps should be undertaken when receivable confirmations go unresponded to?
Expert Answer
Following are the two alternative audit steps to be undertaken when recievables confirmations goes unresponded:
1) The auditors can evaluate any of the payment made to the account following the Balance sheet date. As a balance sheet is a snapshot of all the transaction within financial year evaluating it properly will be helpful.
2) The auditor can also check duplicate invoices, shipping records purchase orders etc. for the transaction causing the unpaid balances.