24.3 The auditor of Lydney Co reviews the receivables ledger at the planning stage for the year end audit and determines that it comprises a large number of small balances, with a few larger balances, which are settled, on average, in two months. As in previous years, the reporting deadline is one month after the year end. Internal controls are considered to be effective and the error rate is expected to be low.What is likely to be the most effective substantive audit procedure to assist in the verification of year end receivables?
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