Apple Blossom Cologne CompanyAudit Program for Cash BalancesAP - 2W/PRefInitialsExistence/Occurrence/Completeness1.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 auditors3.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.
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Cheque, Savings account, Bank Statements, cutoff bank statements, Trace cash cutoff