WebMar 11, 2024 · Cut-off bank statements (e.g., January 20, 20X8 bank statement) may be used to test the outstanding items. Such … WebDuring your examination of a cut-off bank statement, you noticed that the majority of checks listed as outstanding at December 31 had not cleared the bank. This would indicate a. A high possibility of kiting. b. A high possibility of lapping. c. That the cash disbursement journal had been held open past December 31. d.
Audit Evidence - Specific Audit Areas Flashcards Preview
WebA bank cutoff statement is a bank statement as of a date subsequent to the date of the balance sheet. The date should be at a point in time that will permit most of the year-end outstanding checks to clear the bank. The client must request the cutoff statement from the bank and instruct that it be sent directly to the auditor. Once in WebMar 11, 2024 · For example, if your statement is due on March 15, then it will also be due on April 15, May 15, June 15 and so on. You can ask your credit card issuer to adjust … 医師事務作業補助者 求人 ハローワーク
Chapter 18–Auditing Investments and Cash Balances
WebP350,000 and P293,500, respectively. The cut-off bank statement showed a bank charge on January 2,2016 for P30,000. representing correction of an erroneous bank credit. Included in the list of outstanding checks were the following: a. A check payable to a supplier, dated December 29, 2015, in the amount of. P14,750, released on January … Web4. During your examination of a cut-off bank statement, you noticed that the majority of checks listed as outstanding at December 31 had not cleared the bank. This would indicate a. A high possibility of kiting. b. A high possibility of lapping. c. That the cash disbursement journal had been held open past December 31. d. WebTest for Lapping Additional procedures can be performed to try to detect attempts at lapping accounts receivable collections include: Obtaining a cut-off bank statement and checking the proper listing of outstanding checks and deposits in transit on bank reconciliation. Checking the details of customer payments listed in bank deposits in ... 医師が選んだ胃カメラの名医120 名 兵庫