In performing these procedures, the elements of timing, accuracy, completeness, reasonableness, and disclosures pertaining to the company's accounts receivable assets are assessed. The result will determine whether or not the company's financial reports present fairly the results of business operations in this particular aspect.
In forensic accounting, the major deviations from the standards of these elements will provide the leads for the examiner's investigative work. These audit procedures for accounts receivable are useful in unraveling the typical anomalies committed by employees and companies involving the company's accounts receivable items. (See the article featuring Typical Accounts Receivable Fraud Schemes for more details).
In forensic accounting, the major deviations from the standards of these elements will provide the leads for the examiner's investigative work. These audit procedures for accounts receivable are useful in unraveling the typical anomalies committed by employees and companies involving the company's accounts receivable items. (See the article featuring Typical Accounts Receivable Fraud Schemes for more details).
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