Details of this Paper

Auditing Lab 2




One - halp page;Cash and cash equivalents must be managed and controlled properly for a business to run effectively. One of the first issues an auditor will encounter is the proper identification of accounts that should be included in an audit and all of the relevant financial statement assertions that concern these accounts. Complete the following;Describe a minimum of 3 different bank accounts that a company could utilize.;What are the relevant financial statement assertions surrounding cash and cash equivalents and describe why they are important?;Define the types of internal controls that would be tested for the cash account, and give details or describe any specific tests that you might perform to ensure a thorough audit. Provide an audit plan for the cash accounts using each of the following audit steps in outline form with bullet points;Step 1: Understanding your client and the industry;Step 2: Understanding and testing the internal controls and processes;Step 3: Gathering your evidence;Step 4: Expanding scope if necessary;Step 5: Testing


Paper#75397 | Written in 18-Jul-2015

Price : $22