My writer delivered an awesome dissertation on the Creek War, I definitely didn’t have the time to do all the research she did on my own.
Essay (any type)
09/08/2022
Ming, CPA, is engaged to audit the financial statements of Wellington Sales, Inc., for the year…
Ming, CPA, is engaged to audit the financial statements of Wellington Sales, Inc., for the year ended December 31, 20X0. Ming obtained and documented an understanding of the client’s business and environment, including internal control over business processes relating to accounts receivable. She assessed the risks of material misstatement for the assertions of existence, rights, and valuation of accounts receivable at a high level. Ming requested and obtained from Wellington an aged accounts receivable schedule listing the total amount owed by each customer as of December 31, 20X0, and sent positive confirmation requests (signed by Sam Blocker, the controller of Wellington). Ming has asked Zimber, the staff assistant assigned to the engagement, to follow up on the nine returned confirmations that appear on the following two pages. Assume that each confirmation is material if the potential misstatement is projected to the population. Also, assume that in all cases the debit balance is the result of a credit to “Sales.” In several circumstances, a “Note to fi les” is included with additional information relating to the confirmation. Required: Describe the procedure or procedures, if any, that Zimber should perform to resolve each of the nine confirmations (below) with exceptions that were returned and, if possible, provide the audited value of the account. Assume that all amounts involved are considered material.
