Auditing Concepts - Chapter 6 Exercises, Problem, & Simulations 6.47(CH)

Auditing Concepts - Chapter 6 Exercises, Problem, & Simulations 6.47(CH)

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
ACCT_4263_61: Auditing Concepts 6.47 Procedures for Auditing a Client’s Bank Reconciliation a. Identification of procedures: A. Balance per bank: Procedures 4 and 9 B. Deposits in transit: Procedures 1, 7, 8, 9, and 10 C. Outstanding checks: Procedures 2, 7, 8, 9, and 10 D. Customer note collected by the bank: Procedure 5 E.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Error: Check #1282, written on Sept 26: Procedures 5 and 9 F. Balance per books: Procedure 3 b. The total of outstanding checks is $13,480, not $11,450. This is an indication that someone has fraudulently altered the bank reconciliation to match the general ledger balance, which is overstated $2,000 so long as the general ledger balance remains $20,400....
View Full Document

Ask a homework question - tutors are online