5-22 In confirming accounts receivable on December 31 2009 theauthor found 15 discrepancies between the customers records andthe recorded amounts in the accounts receivable master file. A copyof all confirmations that had exceptions was turned over to thecompany controller investigate the reason for the difference. Hein turn had the bookkeeper perform the analysis. The bookkeeperanalyzed each exception determined its cause and prepared anelaborate spreadsheet explaining exceptions were caused by timingdifferences in the bookkeepers report indicated that theexceptions were caused by timing differences in the clients andcustomers records. The auditor reviewed the spreadsheet andconcluded that there were no material exceptions to accountsreceivable.