. , 0. CHAPTER 4 – A udit of Receivables. In your audit of Lidlidda Plastic Products Co. Typically, we perform the audit of accounts receivable in conjunction with the audit of sales.

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Auditing your receivables is important because it sheds light upon the status of a business’ incoming cash.

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Verify the accounts receivable ledger total matches the accounts receivable total on the general ledger. . . Evaluating the Audit Findings When the auditor has completed the planned substantive procedures, the likely misstatement for accounts receivable is determined.

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The audit revealed several internal control weaknesses that prevent the City from effectively managing accounts receivables. Match the total of the aged receivables’ listing to the sales ledgers control account. • reinsurance recoverables that result from insurance transactions.