Principles Of Auditing & Other Assurance Services
21st Edition
ISBN: 9781259916984
Author: WHITTINGTON, Ray, Pany, Kurt
Publisher: Mcgraw-hill Education,
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Textbook Question
Chapter 14, Problem 23RQ
What is the purpose of the auditors’ review of cash payments subsequent to the balance sheet date?
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What audit procedures would you use to determine that the cash balances actually exist at the balance sheet date? Is a bank statement provided by the client sufficient audit evidence?
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which audit assertions the audit procedure of cash count and bank confirmation requests will meet?
Chapter 14 Solutions
Principles Of Auditing & Other Assurance Services
Ch. 14 - If a corporation overstates its earnings, are its...Ch. 14 - Prob. 2RQCh. 14 - Prob. 3RQCh. 14 - Prob. 4RQCh. 14 - Prob. 5RQCh. 14 - Prob. 6RQCh. 14 - Prob. 7RQCh. 14 - Prob. 8RQCh. 14 - List the major responsibilities of an accounts...Ch. 14 - Prob. 10RQ
Ch. 14 - Prob. 11RQCh. 14 - Prob. 12RQCh. 14 - Prob. 13RQCh. 14 - Prob. 14RQCh. 14 - Prob. 15RQCh. 14 - Prob. 16RQCh. 14 - Prob. 17RQCh. 14 - Whitehall Company records its liabilities in an...Ch. 14 - Prob. 19RQCh. 14 - Prob. 20RQCh. 14 - Prob. 21RQCh. 14 - Prob. 22RQCh. 14 - What is the purpose of the auditors review of cash...Ch. 14 - Prob. 24RQCh. 14 - Prob. 25RQCh. 14 - Prob. 26RQCh. 14 - Prob. 27QRACh. 14 - Prob. 28QRACh. 14 - Prob. 29QRACh. 14 - Prob. 30QRACh. 14 - Prob. 31QRACh. 14 - Prob. 32QRACh. 14 - Which of the following procedures is least likely...Ch. 14 - Prob. 33BOQCh. 14 - Which of the following is the best audit procedure...Ch. 14 - Prob. 33DOQCh. 14 - Prob. 33EOQCh. 14 - Prob. 33FOQCh. 14 - Prob. 33GOQCh. 14 - Prob. 33HOQCh. 14 - Ordinarily, the most significant assertion...Ch. 14 - Prob. 33JOQCh. 14 - Prob. 33KOQCh. 14 - Prob. 33LOQCh. 14 - Prob. 34OQCh. 14 - Prob. 35OQCh. 14 - Prob. 36OQCh. 14 - Prob. 37OQCh. 14 - Prob. 38PCh. 14 - Prob. 39PCh. 14 - Prob. 40PCh. 14 - Prob. 41PCh. 14 - Prob. 42PCh. 14 - Prob. 43ITC
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- Which of the following procedures is least likely to be performed before the balance-sheet date?a. Observation of inventory.b. Review of internal control over cash disbursements.c. Search for unrecorded liabilities.d. Confirmation of receivables.arrow_forward6) Examine the cash receipts journal in the accounting system and compare the amounts received to the corresponding amounts invoiced in the revenue accounting system and to the bank statement evidencing the deposit. This is an example of which of the following? A) audit objective B) audit assertion C) audit procedure D) audit programarrow_forwardWhat amount is the audited amount of cash?arrow_forward
- Which of the following is the best audit procedure for the detection of lapping? a. Comparison of postings of cash receipts to accounts with the details of cash deposits. b. Confirmation of the cash balance. c. Reconciliation of the cash account balances. d. Preparing a proof of cash.arrow_forwardWhat is cash disbursement journal? Why it is useful to auditor in cash audit?arrow_forwardHow does cash control deficiencies affect the development of audit procedures for cash?arrow_forward
- Which of the following provides the highest-quality evidence regarding the Valuation of recorded accounts payable? Question 5 options: Inspecting invoices for all cash disbursements during the year. Performing analytical procedures. Confirming balances with creditors and suppliers. Recalculating the balance of accounts payable.arrow_forwardIn preparing for the audit of cash, the auditors perform analytical procedures concerning cash balances. Which of the following would be the best source of information for use in the estimate of cash?a. Prior-years’ balances.b. Management inquiry.c. Cash budgets.d. Aged accounts receivable reportsarrow_forwardWhich of the following communications is most likely to be written before the balance-sheetdate?a. A report to the audit committee on the results of testing of internal control over cash receipts.b. Confirmation letters to vendors confirming the amounts they owe to the client.c. An attorney’s letter regarding contingent liabilities.d. An engagement letter.arrow_forward
- when auditing a client's year end cash balance, an auditor uses standard bank confirmations and performs tests on the clients year end bank reconciliations. These substantive procedures test which of the following assertions? a. understandability of presentation and classification b. cutoff c. completeness and valuation and allowance d. rights and obligations, and occurencearrow_forwardAn auditor's techniques for examining the balance sheet's accounts receivable account are most likely to concentrate on management's claim ofarrow_forwardExplain the relationships among the initial assessed controlrisk, tests of controls and substantive tests of transactions for cash receipts, and the testsof details of cash balances.arrow_forward
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