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On the last day of the fiscal year, the cash disbursements clerk drew a company cheque on bank A and ...

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On the last day of the fiscal year, the cash disbursements clerk drew a company cheque on bank A and ...

On the last day of the fiscal year, the cash disbursements clerk drew a company cheque on bank A and deposited the cheque in the company account in bank B to cover a previous theft of cash. The disbursement had not been recorded. The auditor will best detect this form of kiting by
A) comparing the detail of cash receipts as shown by the cash receipts records with the detail on the confirmed duplicate deposit tickets for three days prior to and subsequent to year-end.
B) preparing from the cash disbursements book a summary of bank transfers for one week prior to and subsequent to year-end.
C) examining the composition of deposits in both bank A and B subsequent to year-end.
D) examining paid cheques returned with the bank statement of the next account period after year-end.

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Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Edition: 12^th

Authors: Arens, Elder, Beasley, Splettstoesser

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Auditing: The Art and Science of Assurance Engagements, Twelfth Canadian Edition, 12/E (Arens, Elder, Beasley, Splettstoesser)

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Auditing: The Art and Science of Assurance Engagements, Twelfth Canadian Edition, 12/E (Arens, Elder, Beasley, Splettstoesser)

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