1)Why do auditors focus on revenue as a significant account and the occurrence of revenue as a relevant assertion in the revenue cycle?

2)Why is inherent risk for the existence assertion for accounts receivable often set higher than inherent risk for the completeness assertion?

3)Why do you think companies use revenue recognition as a primary means for inflating profits?

4)Why is the audit of revenue recognition riskier for a new company?

5)What alternative procedures should be applied to accounts that do not return confirmations?