Multiple Choice
Which of the following is not included in Phase I of the auditing of year-end general cash balances?
A) Identify client business risks affecting cash.
B) Design and perform tests of controls and substantive tests of transactions.
C) Set performance materiality and assess inherent risk.
D) Assess control risk.
Correct Answer:
Verified
Correct Answer:
Verified
Q56: The presentation of cash in the financial
Q57: When auditing financial instruments, interest income and
Q58: A proof of cash helps the auditor
Q59: The standard bank confirmation form has been
Q60: The direct receipt of a confirmation from
Q62: A proof of cash is not an
Q63: When auditing financial instruments, analytical procedures can
Q64: Based on the schedule of interbank transfers
Q65: Auditors are likely to prepare a proof
Q66: Cutoff is more important in testing transactions