SUBSTANTIVE

CASH
AUDITING PROBLEMS

TEST

OF

AUDIT OBJECTIVES
1.Existence
2.Completeness
3.Valuation and Allocation
4.Rights and Obligations
5.Presentation and Disclosure

AUDIT PROCEDURES
1. Sending confi rmation to banks or fi nancial
institution
2. Conducting surprise cash counts
3. Obtaining and testing bank reconciliation
and if appropriate, preparing proof of cash
4. Obtaining bank cut-off statement and
tracing bank transfers
5. Performing cash cut-off tests
6. Checking the appropriate valuation of cash
7. Performing analytical procedures to assess
the reasonableness of reported cash