Audit Program #2 - Apple Blossom Cologne Company Audit...

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Apple Blossom Cologne Company Audit Program for Cash Balances AP - 2 W/P Ref Initials Existence/Occurrence/Completeness 1. Using standard bank confirmations, obtain directly from each bank with which the company did business during the year a confirmation covering bank balances, loans, contingencies, and other information as of year-end. Obtain a list of authorized check signers (S-3). 2. Obtain letters from client to each bank requesting that cutoff bank statements for periods covering two weeks after year-end be sent directly to auditors 3. Obtain from client or prepare reconciliations of all bank accounts (W-1; W-2; W-4): (a) Foot reconciliations and supporting detail. (b) Trace book balance to trial balance (c) Trace bank balance to cutoff bank statement and to bank confirmations. (d) Prove reconciling items: (i) Trace outstanding checks to cutoff bank statement and to cancelled checks included in cutoff bank statement. (ii) Trace outstanding checks to cash disbursement journal.
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This note was uploaded on 05/06/2009 for the course ACCT ACCT2 taught by Professor Asifbashir during the Spring '08 term at Aarhus Universitet.

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