AR confirm alt. procedures. Do we need to test “collectibility is reasonably assured”- this seems unnecessary as the ADA covers this. The collectibility need only be assured at the (cont)

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I tend to agree with you in the fact that collectibility is at the time of the initial transaction under 606. Collectibility of AR at balance sheet date is mitigated by the reserve calculation. However, if you include collectibility question on your confirmation, but don’t consider it in alternative procedures then it would appear as a change in risk assessment. I.e you risk assessed at time of confirmation as required, but then determined it’s not a concern for alt procedures.

Think about how you would proceed if you found a selection that collectibility is a problem. How would you extrapolate that selection? Couldn’t be to AR because you just point to reserve. Only could be to revenue which you have tested elsewhere. Slippery slope as you couldn’t extrapolate to a diff account that isn’t the account sampled.

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Yea. Understandable. Have a productive conversation with the manager to understand the risk from their perspective and be open minded.

I don’t know all of the details of the audit so it may be that those extra procedures are supporting the ada calc if they strictly reserve based on specific accounts. I.e if not collectible, trade into specific reserve listing. If not included, is their reserve complete?

However the fact that you don’t assess collectibility on the ones returned makes me think the manager is thinking “well they aren’t confirming it, are they avoiding it to not have to pay” which would already be included in the ADA as you stated.

But at least it’s a situation of you doing more work than you think is needed and not a situation of not having enough work. You may spend just as much time supporting your argument and going back and forth with the manager as you would have just doing the extra step.

Pick your battles wisely haha good luck!

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(Cont) point of revenue recognition(606), not the balance sheet date. The testing of the ADA will cover any uncertainty over collectibility on outstanding receivables. Just a documentation question, but I’m being shut down by my mgr. thanks all!

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