Professional Documents
Culture Documents
CASH IN BANK
Audit Assertions Evidence
Substantive Procedures
objective
To assess
whether cash in Confirm the validity of presented cash in
bank balance
presented is
bank balance from the bank transacted Rights Bank confirmation.
owned by the by the client.
client.
To identify if any Confirm if ending balance of adjusted cash Existence or Deposit Slip, Withdrawal
mistakes in in bank shown in general ledger tallies with occurence Slip,
computing cash balance sheet.
in bank account
SHORT TERM-PLACEMENTS
Audit Assertions Evidence
Substantive Procedures
objective
To identify if the
client has right Inquire to management and ask them to Rights Documents such as 3-
on claiming present any documents that substantiate month treasury bill & 3-
short term- their rights on short-term financial assets month deposit slip.
placements presented.
presented.
To identify if
short term-
Confirm if ending balance amount of short
placements Completeness General ledger
term-placements in balance sheet tallies
presented by
with amount shown in general ledger.
the client is
fictitious.
To identify if
appropriate
policies in Review policies through reading notes to Presentation Notes to financial
measuring short financial statements. and disclosure. statements.
term-
placements is
adequately
disclosed.