Auditing Concepts - Chapter 6 Exercises, Problem, & Simulations 6.45(CH)

Auditing Concepts - Chapter 6 Exercises, Problem, & Simulations 6.45(CH)

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ACCT_4263_61: Auditing Concepts Chapter 6: Exercise, Problems, Simulations #6.45 6.45 Audit Simulation: Test of Controls over Cash Receipts Other Audit Procedures Reason for Other Audit Procedures 1. The Source of debit entries in general ledger cash accounts, except for the cash receipts journal, have to be inspected and subsidiary documents investigated. 1. To comply with standard procedures, the auditor who examined the cash receipts journal must also investigate the occurrence of all other sources of cash receipts that are not recorded in these journals. 2. Then a surprise audit of cash receipts should be conducted. Before the accounts receivable clerk is able to receive the cash receipts, the auditor should make a list of them without the clerk’s knowledge. Then the undeposited mail receipts should then be controlled after completion of their preparation for deposit and postings have been made to the subsidiary accounts receivable ledger. The deposit slip should be compared to the remittances for
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This note was uploaded on 10/27/2011 for the course ACCT 4263 taught by Professor Chaplin during the Fall '11 term at Fairleigh Dickinson.

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Auditing Concepts - Chapter 6 Exercises, Problem, & Simulations 6.45(CH)

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