现金余额审计Audit of Cash Balances(英文版).pptx

《现金余额审计Audit of Cash Balances(英文版).pptx》由会员上传分享，免费在线阅读，更多相关内容在PPT专区-天天文库。

AuditofCashBalancesChapter17 LearningObjective1Showtherelationshipofcashinthebanktothevarioustransactioncycles. RelationshipsofCashintheBankandTransactionCyclesCashinBankCapitalStock–CommonPaid-inCapitalinExcessofPar–CommonRedemptionofstockRedemptionofstockIssueofstockIssueofstockDividendsPayablePaymentofdividendsCapitalAcquisitionandRepaymentCycle RelationshipsofCashintheBankandTransactionCyclesCashinBankAccountsPayablePaymentAcquisitionandPaymentCycle RelationshipsofCashintheBankandTransactionCyclesCashinBankAccountsReceivableGrossSalesCashsalesCashreceiptsCashDiscountsTakenSalesandCollectionCycle RelationshipsofCashintheBankandTransactionCyclesCashinBankAccruedWages,Salaries,Bonuses,andCommissionsWithheldIncomeTaxesandOtherDeductionsPaymentPaymentAccruedPayrollTaxExpensePaymentPayrollandPersonnelCycle CashintheBankandTransactionCyclesFailuretobillacustomerBillingacustomeratalowerpricethancalledforbycompanypolicyAdefalcationofcashbyinterceptionofcashreceiptsfromcustomersbeforetheyarerecorded,withtheaccountchargedoffasabaddebtMisstatementswhichmaynotbediscoveredasapartoftheauditofthebankreconciliation CashintheBankandTransactionCyclesDuplicatepaymentofavendor’sinvoiceImproperpaymentsofofficers’personalexpendituresPaymentforrawmaterialsthatwerenotreceivedPaymenttoanemployeeformorehoursworkedPaymentofinteresttoarelatedpartyforanamountinexcessofthegoingrate CashintheBankandTransactionCyclesMisstatementswhicharenormallydiscoveredasapartofthetestsofabankreconciliation.Failuretoincludeacheckthathasnotclearedthebank,eventhoughithasbeenrecordedinthecashdisbursementsjournalCashreceivedbytheclientsubsequenttothebalancesheetdatebutrecordedascashreceiptsinthecurrentyear CashintheBankandTransactionCyclesDepositsrecordedascashreceiptsneartheendoftheyear,depositedinthebankinthesamemonth,andincludedinthebankreconciliationasadepositintransitPaymentsonnotespayabledebiteddirectlytothebankbalancebythebankbutnotenteredintheclient’srecords LearningObjective2Identifythemajortypesofcashaccountsmaintainedbybusinessentities. GeneralcashaccountImprestpayrollaccountBranchbankaccountImprestpettycashfundCashequivalentsTypesofCashAccounts RelationshipofGeneralCashtoOtherCashAccountsBranchBankCashEquivalentsImprestPayrollImprestPettyCashFundGeneralCash LearningObjective3Designandperformaudittestsofthegeneralcashaccount. MethodologyforDesigningTestsofBalances–CashIntheBankIdentifyclientbusinessrisksaffectingcashinbank.Settolerablemisstatementandassessinherentriskforcashinbank.Assesscontrolriskforcashinbank. MethodologyforDesigningTestsofBalances–CashIntheBankDesignandperformtestsofcontrolsandsubstantivetestsoftransactionsseveralcycles.Designandperformanalyticalproceduresforcashinbankbalance. MethodologyforDesigningTestsofBalances–CashIntheBankDesigntestsofdetailsofcashinbankbalancetosatisfybalance-relatedauditobjectives.AuditproceduresSamplesizeItemstoselectTiming Acct.101–GeneralaccountBalanceperbank,12/31$63,275Adddepositintransit12/3111,250$74,525Lessoutstandingcheck8,000Balanceperbank,adjusted$66,525AuditScheduleforaBankReconciliationScheduleA-2DatePreparedbyCO1/10/03ApprovedbyPZ1/18/03 Balanceperbooks,12/31$66,647Add:Notereceivablecollectedbythebank1,325Interestincome265$68,237Less:Paymentofelectricbill1,500NSFcheck200Servicecharge12Balanceperbooks,adjusted$66,525AuditScheduleforaBankReconciliation Balance-RelatedObjectives:GeneralCashintheBankDetailtie-inCutoffPresentationanddisclosureplusthethreemostimportantobjectives:ExistenceAccuracyCompleteness LearningObjective4Recognizewhentoextendaudittestsofthegeneralcashaccounttotestfurtherformaterialfraud. ExtendedTestsoftheBankReconciliationWhentheauditorbelievesthattheyear-endbankreconciliationmaybeintentionallymisstated,itisappropriatetoperformextendedtestsoftheyear-endbankreconciliation.Inadditiontothesetests,theauditormustalsocarryoutproceduressubsequenttotheendoftheyearwiththeuseofthebankcutoffstatement Theaccuracyoftheinformationontheinterbanktransferscheduleshouldbeverified.Theinterbanktransfersmustberecordedinboththereceivinganddisbursingbanks.Thedateoftherecordingofthedisbursementsandreceiptsforeachtransfermustbeinthesamefiscalyear.TestsofInterbankTransfers Disbursementsontheinterbanktransferscheduleshouldbecorrectlyincludedinorexcludedfromyear-endbankreconciliationasoutstandingchecks.TestsofInterbankTransfersReceiptsontheinterbanktransferscheduleshouldbecorrectlyincludedinorexcludedfromyear-endbankreconciliationsasdepositsintransit. LearningObjective5Designandperformaudittestsoftheimprestpayrollbankaccount. Typically,theonlyreconcilingitemsareoutstandingchecks.AuditoftheImprestPayrollBankAccountPaycheckforDept.ofTreasurerJohnDoePaycheckforDateDept.ofTreasurerJaneDoeDate LearningObjective6Designandperformaudittestsofimprestpettycash. Pettycashisauniqueaccountbecauseitisoftenimmaterialinamount,yetitisverifiedonmanyaudits.Theaccountisverifiedprimarilybecauseofthepotentialfordefalcationandtheclient’sexpectationofanauditreviewevenwhentheamountisimmaterial.PettyCash AudittestsforpettycashInternalcontrolsoverpettycashAuditofImprestPettyCash EndofChapter17