For each of the following audit procedures (1 through 5) used to test controls over cash receipts, match the audit proce
Posted: Sun Jul 03, 2022 1:08 pm
For each of the following audit procedures (1 through 5) used totest controls over cash receipts, match the audit procedure to thecorrect control objective (A through F) and place the identifyingletter in the space provided.
A. Validity
B. Completeness
C. Authorization
D. Accuracy
E. Classification
F. Proper period accounting
____ i. Compare dates in the cash receipts journal and theprelisting of cash receipts with dates of deposits
____ ii. Trace from daily cash reports to the cash receiptsjournal.
____ iii. Trace entries from cash receipts journal to the bankstatement.
____ iv. Review monthly bank reconciliations.
____ v. Foot the cash receipts journal and trace the postings tothe general ledger and the accounts receivable subsidiary ledger toensure transaction are recorded in the correct accountingmonth.
A. Validity
B. Completeness
C. Authorization
D. Accuracy
E. Classification
F. Proper period accounting
____ i. Compare dates in the cash receipts journal and theprelisting of cash receipts with dates of deposits
____ ii. Trace from daily cash reports to the cash receiptsjournal.
____ iii. Trace entries from cash receipts journal to the bankstatement.
____ iv. Review monthly bank reconciliations.
____ v. Foot the cash receipts journal and trace the postings tothe general ledger and the accounts receivable subsidiary ledger toensure transaction are recorded in the correct accountingmonth.