You Are Auditing SBT, Which Has a December 31ˢᵗ Year-End

You are auditing SBT, which has a December 31ˢᵗ year-end. On December 24ᵗʰ, the person responsible for processing receiving reports and recording the receipt of inventory became very ill and was out of the office for a week. Due to the company's small staff and the holiday season, a number of the receiving reports were not processed on a timely basis. As an auditor, on which assertion would you place a high importance for this entity and how would you test for it?

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The cutoff assertion would be very impor...

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