Refer to Telstra Annual Report 2020 1.Obtain a list of all cash deposits/accounts held with financial institutions

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Refer to Telstra Annual Report 2020

1.Obtain a list of all cash deposits/accounts held with financial institutions from the client (including any accounts closed during the year) and perform the following procedures:

a. compare to the prior period and obtain explanations for any additions/deletions, and also choose which of the following option is suitable (Completed, Unable to complete, Not applicable)

b. discuss banking arrangements with the client to ensure all cash deposits/accounts are recorded on the list. and also choose which of the following option is suitable (Completed, Unable to complete, Not applicable)

2. Trace opening cash balances to prior period audited balances. and also choose which of the following option is suitable (Completed, Unable to complete, Not applicable)

3. Do the following:

a. Assess the need for selecting bank accounts to confirm the period-end balance directly with the bank. Consider size of balance, number of transactions and any fraud risk identified.and also choose which of the following option is suitable (Completed, Unable to complete, Not applicable)

b. Obtain a bank confirmation for all accounts selected in (a) above and agree details to the bank reconciliations.and also choose which of the following option is suitable (Completed, Unable to complete, Not applicable)

c. For accounts not confirmed, perform alternative procedures such as reviewing copies of bank statements, correspondence, cheques and deposits.and also choose which of the following option is suitable (Completed, Unable to complete, Not applicable)

4. Review the bank confirmation/s for any additional information relevant to the financial report such as securities held, offset arrangements, unused credit limits/facilities, account restrictions etc. Cross reference the confirmation/s to other relevant audit areas and also choose which of the following option is suitable (Completed, Unable to complete, Not applicable)