Following is an audit working paper that documents an auditor's tests of a client's bank reconciliation.

Required: 

List the deficiencies in this working paper.

Transcribed Image Text:

Ansonia Wire & Cable Co., Inc. Bank Reconciliation December 31, 1999 Balance per bank, 12/31/99 Add: DIT, 12/31/99 Less: O/S checks: No. 5775 12/24 No. 5776 12/26 No. 5777 12/27 No. 5779 12/29 No. 5780 12/31 Adjusted bank balance $1,431,897& 156,050& 234,875& A5 ARE $17,551,710@ 1,578,143* 2,169,549& 1,191,240& (5,183,611) $13,946,242 $14,473,098# Balance per books, 12/31/99 Less: Check from Apex, Inc., deposited 12/15, returned NSF on 12/18 Adjusted book balance * Agreed to 12/31/99 bank statement obtained from client/ ARE Agreed to cash receipts records/ARE & Agreed to cash disbursements records/ARE # Agreed to client bank reconciliation/ARE (526,856)@ $13,946,242