Why should a list of cash remittances be made and sent to the accounting department?
Answer to relevant QuestionsSuppose you selected a sample of customers’ accounts receivable and wanted to find supporting evidence for the entries in the accounts. Where would you go to vouch the debit entries? What would you expect to find? Where ...Which audit procedures are usually the most useful for auditing the existence and ownership (rights) assertions? Give some examples.In the Audit 11.2 case, what information might have been obtained from each of the following: enquiries, detail test of controls procedures, observations, and confirmations?In the Audit 11.1 case, name one bank reconciliation control procedure that could have revealed signs of embezzlement.a. Complete the following continuity schedule indicating how the movements in the allowance for doubtful accounts tie into other amounts in the financial statements.b. Prepare an audit program listing the procedures that can ...
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