(Answered) : Following are the two alternative audit steps to be undertaken when recievables confirmations goes unresponded: 1) The auditors

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.

Expert Answer

Answer: Due diligence is the process of exercising due care while making any business decision. It comprises of the reasonable steps which are taken by a

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