4.1. Discuss the common frauds related to cash accounts. What should auditor do if there's...
50.1K
Verified Solution
Link Copied!
Question
Accounting
4.1. Discuss the common frauds related to cash accounts. What should auditor do if there's internal control weeknesses over cash accounts? 4.2. Paul works for CPA firm, currently involed in an audit engagement. After an interview with client personnel, Paul noted that bank reconciliation procedure was not existed as a internal control at the client company. As consequences, the ending cash balance was different from Bank statement. Discuss the risks that the client company faces AND explain the possible reason for the differences between cash book and bank statement
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
