Title: When the auditor believes the year-end bank reconciliation may be intentionally misstated, it is ... Post by: mmaruska on Aug 1, 2022 When the auditor believes the year-end bank reconciliation may be intentionally misstated, it is appropriate to perform extended tests of the year-end bank reconciliation. Assuming the client has an October 31 year-end, these extended tests would not include
▸ comparing all September 30 reconciling items with canceled checks and other documents in the October bank statement. ▸ comparing all canceled checks and deposit slips in the October bank statement with the October cash disbursements and receipts records. ▸ carrying out all proper procedures subsequent to the end of the year with the use of the bank cutoff statement. ▸ determining that all outstanding checks had cleared by the date of the bank cutoff statement. Title: When the auditor believes the year-end bank reconciliation may be intentionally misstated, it is ... Post by: wardasid on Aug 1, 2022 Content hidden
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