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Author Question: When the auditor believes the year-end bank reconciliation may be intentionally misstated, it is ... (Read 36 times)

xsk4r3kr0w

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on: Aug 21, 2022

Question 1

The process of transferring money from one bank account to another and improperly recording the transaction is referred to as
◦ kiting.
◦ lapping.
◦ scamming.
◦ embezzling.

Question 2

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.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by xsk4r3kr0w on Aug 21, 2022

annaelena92

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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xsk4r3kr0w

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

momolu

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Reply 3 on: Yesterday
Excellent

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