Receivables Flashcards
1
Q
Receivables
A
- inspect post year end bank statements for cash receipts and trace to balances in receivables for evidence of recoverability
- for a sample of receivables at the year end perform direct confirmation of balances
- obtain copy of aged receivables analysis and ascertain reasons for any significant overdue balances
- Ascertain as to whether any provisions are necessary
- review correspondence from customers and board minutes for any customer disputes
