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mmaruska mmaruska
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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.
Textbook 

Auditing and Assurance Services


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wardasidwardasid
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determining that all outstanding checks had cleared by the date of the bank cutoff statement.

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