When scheduling the audit work to be performed on an engagement, the auditors should consider confirming accounts receivable balances at an interim date if ________.
1) The auditors want to minimize the risk of material misstatement in accounts receivable.
2) The auditors want to ensure that accounts receivable are fairly presented in the financial statements.
3) The auditors want to gather sufficient appropriate audit evidence regarding the existence and valuation of accounts receivable.
4) The auditors want to identify any potential fraud or error in accounts receivable.