AL Rashidya Companys auditor received, directly from the bank, confirmations and cutoff statements with related cheques and deposit tickets for Al Rashidyas three general purpose bank accounts. The auditor determined that the controls over the cash are satisfactory and can be relied upon. The proper cutoff of external cash receipts and disbursements was established. No ban: accounts were opened of closed during the year.  

 

Required:

Prepare the audit program of substantive procedures to verify AL Rashidyas bank balances. The audit program should contain audit procedures

Answer rating: 100% (QA)

Audit Program for Substantive Procedures to Verify Al Rashidya Companys Bank Balances 1 Bank Reconci... View the full answer