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Auditing Cash - Audit Staff Essentials, Level I

Author/Moderator: Joanne Flood, CPA-MBA
Publisher: AICPA
Availability: Online Access
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Save when you buy the complete Audit Staff Essentials, Level 1 – New Hire bundle.

This course gives you the guidance you need to audit cash. Testing the bank reconciliation is the primary test of cash and through a comprehensive case study and interactive exercises, you will practice thoroughly testing each component of the reconciliation.

You will see the importance of spending the time to understand the accounting system and related controls in this area. You'll learn how to take the proper steps to work with the client to obtain all the records, schedules, and other information that you need to do your job.
Through a valuable series of tips, you'll be prepared to keep your eyes open for signs of possible problems, such as unusual or unexplained reconciling items on the bank statement, for items such as restricted cash balances that require disclosure and for the possibility that the client has written but not distributed certain checks as of the balance sheet date.

Topics Discussed

  • Understanding the cash cycle
  • Common cash account audit procedures and techniques
  • Bank reconciliations

Learning Objectives

  • Match audit procedures typically performed in the cash area to stated audit objectives
  • Effectively review the accounting system and controls over cash transactions and identify weaknesses and possible solutions
  • Properly test client's bank reconciliation and perform other substantive tests in the cash area
  • Avoid common audit inefficiencies and oversights

Prerequisite: 0-6 months experience

Advanced Preparation:  None

NASBA Field of Study: Accounting and Auditing
Level: Basic
Recommended CPE Credit: 3
Auditing Cash - Audit Staff Essentials, Level I
Individual CPE
CPE On-Demand
Product# 150054
Availability: Online Access 1 Year
For registered users only
AICPA Member:$99.00
Your Price:$125.00
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