Sales revenue is always the largest item in the financial statements and most manipulations are effected through this very item. Sales audit will not only help in checkmating these manipulations but also in developing good customer profiles that will enhance projections on sales revenue and developments.
Constantinos Constantinides
In general, as in every industry,revenue recognition is a presumed risk of material mistatement.There are certain procedures and controls, which if correctly applied and followed, those risk should be minimised (if not at all eliminated).
I think is all about dealing with the right professionals who know their business and how to deal not only with the tax authorities but also with the other various stakeholders as well.
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