AC410 Unit 5 Assignment 2.docx Running head: SIGNIFICANT DEFICIENCIES IN ACCOUNTS RECEI
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AC410 Unit 5 Assignment 2.docx Running head: SIGNIFICANT DEFICIENCIES IN ACCOUNTS RECEIVABLE AC-410 Auditing AC410 The audit of A-One Travel has revealed two major concerns relating to operations. The company ™s accounts receivable recognition and refund policy exhibit significant deficiencies in internal control. It is the responsibility of the auditor to report such deficiencies to the audit committee. A-One ™s company policy needs to be addressed regarding valuation of assets and management ™s ethical standards. Due to the level of risk of misstatement of revenues, the refund policy must be discussed with the board in effort to make it more ethical and transparent to customers. The company ™s improper revenue recognition affects the sales and accounts receivable balances reported on financial statements. These issues are addressed during the course of the audit. Whittington (2018) states, œA significant defi
[Solved] AC410 Unit 5 Assignment 2.docx Running head: SIGNIFICANT DEFICIENCIES IN ACCOUNTS RECEI
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AC410 Unit 5 Assignment 2.docx Running head: SIGNIFICANT DEFICIENCIES IN ACCOUNTS RECEI
AC410 Unit 7 Journal
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