Sample content Ch. 5, 6, & 7 Textbook Exercises 5-30 (Assertions) Throughout the planning process of an audit, the auditor must acknowledge the clients financial statements in order to identify the following issues which need an audit attention. 1. The availability for doubtful accounts which are justly presented in the amount. 2. All accounts payable owed on the balance sheet must also be included in the financial statements. 3. All purchase returns included in the financial statement are further recorded in the general ledger and are valid. 4. There is a potential risk that the purchases made within the previous week of the month might potentially be included in the following period. 5. The client could have potentially factored in accounts receivable. 6. The client has applied special purpose entities in order to finance the building. Neither the building nor the debt is included in the financial statements. 7. A retail client takes priority in inventory throu