The same edits and validation routines used for online data entry should be applied to data
uploaded from a desktop computer. This could help prevent data errors.

Best practice and accounting standards require that receivables unlikely to be collected be written off to avoid overstating assets. Internal audit should recommend that management review the receivables and write off uncollectible debts accordingly.
Option A (escalation to the board) is premature; it should first be addressed with management. Option B (removing from cash flow statement) is not correct because write-offs affect the balance sheet and income statement, not just cash flows. Option D ignores a material risk of misstated financial statements.
Reference:
IIA Standards - Standard 2410: Criteria for Communicating; Accounting best practices for doubtful accounts.

The order of the steps in the accounting cycle is identification and measurement of transactions and other events required to be recognized, journalization, posting from the journals to the ledgers, the development of a trial balance, adjustments to produce an adjusted trial balance. statement presentation, closing, taking a post closing trial balance optional), and making reversing enterprise optional).

On October 1, year 1, the entity paid us$ 18,000 to renew its only insurance policy for a 3year period beginning on that date this transaction has not been recorded. salaries and wages of us$1,700 have been incurred but not paid as of December 31,year1.at December 31,year 1,the balance per bank statement was US$12,000.outstanding cheaks amounted to US $,900.interest of US $40 was credited to the entity's account by the bank during December, but has not yet been entered on the books.

Antivirus measures should include strict adherence to software acquisition policies. Unlicensed software is less likely to have come from reputable vendors and to have been carefully tested. Special software is available to test software in use to determine whether it has been authorized.

The effect of the understatement of the Year 3 year-end inventory beginning inventory for Year 4) was to overstate Year 4 profit by US $40,000. The reason is that beginning inventory is a component of cost of sales. The overstatement of the December 3 1, Year
4. Inventory overstated Year 4 net income by US $15,000 because the amounts in ending inventory are excluded from cost of sales. The understatement of Year 3 depreciation expense a nominal account) has no effect on Year 4 net income. Finally, the failure to accrue US $10,000 of expenses for Year 4 overstated Year 4 net income. The net effect of these Err-ors was a US $65,000$40,000 + $15,000 + $0 + $10,000) overstatement.
An audit of an entity has revealed the following four errors that have occurred but have not been corrected:
1.Inventory at December 31, Year 3: US $40,000, understated
2.Inventory at December 31. Year 4: US $15,000. overstated
3.Depreciation Ur Year 3: US $7,000. understated
4.Accrued expenses at December 31, Year 4: US $10,000, understated