Project Cash
Project Cash
Project Cash
Required:
2. For each weakness you discover in the controls related to cash receipts, list the
weakness, a potential error or irregularity, and a compensating substantive test
of transactions or balances that could detect the error or irregularity, assuming
the necessary records and documents are available to you.
4. For each weakness you find in the controls related to cash disbursements and
balances, list the weakness, a potential error or irregularity, and a
compensating substantive test of transaction that could detect the error or
irregularity, assuming the necessary records and documents are available to
you.
5. Prepare a substantive audit program to test the year-end cash balances. Your
audit program should address the financial statement assertions, as well as any
weaknesses you have uncovered in the internal control structure.