The following are misstatements that might be found in the client’s year-end cash balance : 1. A check was omitted from the outstanding check list on the June 30 bank reconcilia- tion. It cleared the bank July 7. 2. Cash receipts collected on accounts receivable from July 1 to July 5 were included as June […]
The following are misstatements that might be found in the client’s year-end cash balance : 1. A check was omitted from the outstanding check list on the June 30 bank reconcilia- tion. It cleared the bank July 7. 2. Cash receipts collected on accounts receivable from July 1 to July 5 were included as June […]
You are doing the first-year audit of Sherman School District and have been assigned responsibility for doing a four-column proof of cash for the month of October 2019. You obtain the following information: In-class Discussion Required *Based on AICPA question paper, American Institute of Certified Public Accountants. 778Part 4 / APPLICATION OF THE AUDIT PROCESS […]
EFFECT OF RESULTS OF TESTS OF CONTROLS AND SUBSTANTIVE TESTS OF TRANSACTIONS 1. Describe whether the auditor is more concerned about the occurrence or completeness objective related to cash receipts. 2. How might the write-off of accounts receivable increase the risk of fraud related to cash receipts?
