A major consideration in the audit of the general cash balance is the possibility of fraud. The auditor must extend his or her procedures in the audit of year-end cash to determine the possibility of a material fraud when there are
A) large cash balances at the end of the year.
B) large cash receipts and disbursements during the year.
C) no imprest accounts used for payroll.
D) inadequate internal controls.
D
Business
You might also like to view...
A financial forecast consists of prospective financial statements that present and entity's expected financial position, results of operations, and cash flows. A forecast
a. Is based on the most conservative estimates b. Presents estimates given one or more hypothetical assumptions c. Unlike a projection, may contain a range d. Is based on assumptions reflecting conditions expected to exist and courses of action expected to be taken
Business
Briefly describe the consumer market survey forecasting method
What will be an ideal response?
Business