answersLogoWhite

0

circularization of debtors

Accounting

auditors' approach to debtors to identify assetsthe sending of letters by a company's auditors to debtors in order to verify the existence and extent of the company's assets

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

What is receivable circularization?

Receivable circularization is an auditing procedure used to verify the existence and accuracy of accounts receivable. It involves sending confirmation requests to a company's customers to confirm the amounts owed to the company. This process helps auditors assess the reliability of the financial statements by ensuring that recorded receivables are legitimate and accurate. Circularization can also identify potential disputes or discrepancies in accounts.


What is creditors circularization?

creditors' circulization


What is bank circularization?

What is Bank Circular is action


What is the concept of database auditing about?

Database auditing involves observing a database so as to be aware of the actions of database users. Database administrators and consultants often set up auditing for security purposes.


What is account receivables circularization?

Account receivables circularization is an audit procedure used to verify the accuracy and existence of a company's accounts receivable. It involves sending confirmation requests to customers, asking them to acknowledge the amounts they owe. This process helps auditors assess the reliability of the company's financial statements by ensuring that recorded receivables are valid and collectible. Circularization can also uncover discrepancies or potential issues in the company's accounting practices.


What is debtors circularization?

Debtors' circularization represents an external source of evidence provided in support of the assertion of existence and to lesser extent, valuation and completeness with respect to debtors. It's a verification procedure where by trade debtors are contacted directly by the auditors to confirm their balances. It has become so extensive that auditors have now developed a standard format for the purpose. The fundamental reason for the usage of theses circularization is that its reliable audit evidence coming from an independent source and it's in documentary form.


Briefly discuss about histoty of auditing?

The history of auditing can be traced back to ancient civilizations, where early forms of financial oversight emerged to ensure accuracy and integrity in trade and taxation. In ancient Egypt and Mesopotamia, officials were appointed to review financial records and transactions. The modern concept of auditing began to take shape during the Renaissance, particularly in Europe, as commerce expanded and the need for accountability grew. By the 19th century, formalized auditing practices developed alongside the rise of corporations, leading to the establishment of professional accounting bodies and standardized auditing procedures.


What has the author J Donald Warren written?

J. Donald Warren has written: 'Handbook of Accounting and Auditing' 'Continuous auditing' -- subject(s): Auditing, Internal, Internal Auditing


What has the author Vivian R V Cooper written?

Vivian R. V. Cooper has written: 'Manual of auditing' -- subject(s): Auditing 'Student's manual of auditing' -- subject(s): Auditing


What is Auditing practices and methodology of firms?

What is Auditing practices and methodology of firms?"


What is meant by auditing?

auditing is a review process,usually of accounting procedures


How auditing begins where accounting ends?

Auditing begins where Accountancy ends.