You have been put in charge of the accounts receivable confirmation process. You have been asked to prepare a memo describeing the process and address concerns using citations from authoritative auditing literature. Your client is a public company; therefore, your guidance will come from the PCAOB. You have been asked to address how the testing of controls in the revenue and cash receipts areas impacted the confirmation process. You should address the timing of sending confirmations and the reliability of confirmations. Address the issue of using internal auditors in the future. Address what happens if there is no response to your confirmation. Address if you can accept electronic replies. This process should be described in a well written memo to the auditor partner not to exceed two pages. Grade is based on communication skills and correctness. (Hint: Do your research by reading relevant Auditing Standards and SAS's and then prepare; do not plagiarize. Use quotes and citation when quoting authoritative literature.)