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Which of the following represents the most competent evidence that trade receivables actually exist

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Which of the following represents the most reliable evidence that trade receivables exist?

Positive confirmationsCompetence, or reliability, of audit information depends in part upon the type of evidence. In thissituation, a confirmation from a customer is the most reliable evidence that a receivable exists.

Which of the following represents the most reliable information that a receivable actually exists a positive confirmation a sales invoice a receiving report a bill of lading?

A sales invoice. Answer C is correct. A confirmation is a direct communication between the internal auditor and the debtor.

Which of the following procedures provides the most relevant information to determine the adequacy of the allowance for doubtful accounts receivable?

Which of the following procedures provides the most relevant information to determine the adequacy of the allowance for doubtful accounts receivable? Analyze the allowance through an aging of receivables and an analysis of current economic data.

Which of the following most completely describes the appropriate content of internal audit assurance engagement working papers?

Question
Answer
10.which of the following most completely describes the appropriate content of internal audit assurance engagement working papers?
C-Objectives, procedures, facts, conclusions and recommendations
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represents competent evidence trade receivables exist

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