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UnclassifiedAudit of Accounts Receivable Phase II Collections, Write-offs and Remissions November 2016Internal Audit Services BranchAudit of Audit of Accounts Receivable Phase II Collections, Write-offs
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What is audit of accounts receivable?
An audit of accounts receivable is a process of examining the financial records to verify the accuracy of the amounts due from customers.
Who is required to file audit of accounts receivable?
Companies or organizations that have accounts receivable as part of their financial statements are required to file an audit of accounts receivable.
How to fill out audit of accounts receivable?
To fill out an audit of accounts receivable, the auditor must review the company's records, confirm balances with customers, and perform necessary testing procedures.
What is the purpose of audit of accounts receivable?
The purpose of an audit of accounts receivable is to ensure the accuracy and completeness of the amounts recorded as receivables in the financial statements.
What information must be reported on audit of accounts receivable?
The audit of accounts receivable must report on the accuracy of the recorded balances, any potential bad debts, the aging of balances, and any necessary adjustments.
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