PRACTICAL CASH AND BANK AUDIT (Test 2)
Daily cash report is prepared by accountant on 15 November 2017 is given as follows.
Owner suspected that daily cash report on 15 November 2017 shows that cash and bank movement is decrease by $5,000 is incorrect, so he wants Internal auditor make appropriate audit procedures to check daily cash report above.
Required:
You are required to check this cash and bank movement for daily cash report on 15 November 2017, and you may assume that beginning cash and bank balance of $10,000 on 15 November 2017 is correct. Define ways and procedures that you should use to check this movement.
Abbreviation:
In: invoice
AR: account receivable
PV: payment voucher
OR: official receipt
DCR: Daily cash report