Author Question: If a bank doesnotrespond to a bank confirmation request, the auditor would most likely (Read 46 times)

Gabby · **on:** Aug 21, 2022

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

butterfly17 · **Reply #1 on:** Aug 21, 2022

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