Discuss the advantages and disadvantages of using negative accounts receivable confirmations rather than positive confirmations
What will be an ideal response?
The primary advantage of negative confirmations is that they are less expensive than positive confirmations because there are no second requests and no follow-up of nonresponses. The primary disadvantage of negative confirmations is that they are less reliable than positive confirmations because a nonresponse must be regarded as a correct response, even though the debtor may have ignored the confirmation request. The determination of which type of confirmation to use is an auditor's decision and it should be based on the facts in the audit.
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Which of the following is an external product development strategy?
A. joint ventures B. migrations of existing products C. new internally developed products D. enhancements to existing products
In its initial efforts to sell more shoes in Europe, Nike incorporated one of Europe's most popular traditions. What was it?
A. Bullfighting B. Opera C. Track and field events D. Soccer exhibitions