Question 1
Because cash is the most desirable asset for people to steal, it has a higher
◦ control risk.
◦ inherent risk.
◦ detection risk.
◦ liquidity risk.
Question 2
If a bank does
not respond to a bank confirmation request, the auditor would most likely
◦
| Perform alternative procedures | Send a second
request | Ask the client to communicate with the bank to ask them to complete and return the confirmation |
| No | Yes | Yes |
◦
| Perform alternative procedures | Send a second
request | Ask the client to communicate with the bank to ask them to complete and return the confirmation |
| No | No | Yes |
◦
| Perform alternative procedures | Send a second
request | Ask the client to communicate with the bank to ask them to complete and return the confirmation |
| Yes | No | Yes |
◦
| Perform alternative procedures | Send a second
request | Ask the client to communicate with the bank to ask them to complete and return the confirmation |
| Yes | Yes | No |
Bank teller assisting with customer service.
Bank reconciliation form.
How to solve a linear algebraic bank interest problem with two unknowns
Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ...
Piggy bank