How can a proof of cash reveal unrecorded cash deposit and cash payment transactions?
Answer to relevant QuestionsIn Case 6.1, if the petty cash custodian were replaced and the frequency of fund reimbursement decreased from every two days to every four days, what might you suspect?What account balances are included in a revenue and collection cycle?What are some justifications for not using confirmations of accounts receivable on a particular audit?When auditing the revenue and collection cycle, auditors normally select balances to con-firm from the a. Sales journal. b. Accounts receivable listing. c. General ledger. d. Cash receipts listing.To conceal a theft involving receivables, a dishonest bookkeeper might charge which of the following accounts? a. Miscellaneous income. b. Petty cash. c. Miscellaneous expense. d. Sales returns.
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