Which of the Following Represents a Typical Substantive Audit Procedure

question 43

Multiple Choice

Which of the following represents a typical substantive audit procedure for cash balances?

• A) Verify material deposits-in-transit to subsequent statements.
• B) Review cash confirms received by the client from the bank.
• C) Foot cutoff bank statements provided by the financial institutions.
• D) Perform kiting techniques to transfer cash between two client accounts.

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Definitions:

At Once

Immediately or without any delay.

Unstructured Problems

Issues that lack clear definition or a straightforward solution pathway, often requiring complex decision-making strategies.

Information Deficiencies

Gaps in knowledge that occur when individuals or organizations lack the necessary data to make informed decisions or understandings.

Ambiguous

Something that can be understood in more than one way; lacking clearness or definiteness.