True or false?

please state the true statement if its false.

17. In testing the internal controls for cash, an auditor relies solely on the preparation and review of bank reconciliations. During the preparation of a bank reconciliation, she notices that the numbered checks are out of sequence. After, looking for the missing checks, they cannot be found. During the investigation, the bookkeeper informs the auditor that the missing checks were voided and discarded. Since the book and bank balances agree, the auditor needs to do nothing else. 18. Sun Global Corp., is an international company that trades heavily with the country of Lebanon. After the books and records close for the fiscal year, but before issuing the auditor's report, you learn that Lebanon's currency has fallen 75% due to a major fraud within the Central Bank of Lebanon. So based on AICPA rules, you decide under the concept of conservatism to record a loss due to foreign currency transactions. 19. An auditor meets with a client to discuss the allowance for product warranties. The client estimates that an allowance for 2% of product sales will be a sufficient liability to record on the balance sheet. The auditor ought to include this matter in his letter of inquiry to the company's law firm. 20. Sam and Dave issue an unqualified opinion in the financial statements of G Corp. on April 30, 2019 for the last calendar year. They know that North Star Bank is considering funding a mortgage for the G Corp. based on their audited financial statements. On June 30, 2019, they read in the newspapers that Mary Wells, the full-charge bookkeeper, was arrested for forgery and embezzlement of G Corp. cash. The purported amount stolen was $12,000. They now realize that $1,000 a month during the period audited must have been stolen from the petty cash box. The proper procedure for Sam and Dave to follow is to immediately contact Mary Wells, and demand that she return the stolen funds. Pane