In addition to payroll, the costs of running Condo-Cleaners.com are web services, telecommunications, cleaning supplies, and vehicle costs. Jim pays most of these costs using his personal credit card. He then separates the receipts, recording business expenses in a spreadsheet, marking any personal costs as “personal” on the credit card statement. He keeps the credit card statement and receipts in support of his expenses.

REQUIRED

Identify audit issues associated with the audit of expenses at CondoCleaners.com.