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Whether existing Sales Transactions are recorded?

In many audits and in aduqate internal controls, no substantive tests of transactions are done for the completeness objective on the grounds that overstatements is assets and income are a greater concern in the audit of sales transactions than their understatements! true or false?

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Question ajoutée par Fathi Matbaq , Senior Purchasing Officer , Alghanim Industries
Date de publication: 2016/03/06
Abu Bakar Ashfaq
par Abu Bakar Ashfaq , Senior Consultant , PricewaterhouseCoopers Middle East

Yes, overstatement risk is higher in revenue, but it does not preclude the auditor to perform procedures on other assertions. 

PEER MOHAMED PEER
par PEER MOHAMED PEER , ACCONTANT , BLS INTERNATINAL SERVICES

Transaction are initially recorded in which of the following

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