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Explain the Purpose of Testing the Client's Bank Reconciliation, and Discuss

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Essay

Explain the purpose of testing the client's bank reconciliation, and discuss the major audit procedures involved.


Definitions:

Tri-Party Agreements

Tri-party agreements are contracts involving three parties, where one party agrees to fulfill a condition to the second party based on a condition enforced by the third party.

Apprenticeships

A system of training a new generation of practitioners of a trade or profession with on-the-job training and often some accompanying study.

Staffing Needs

Refers to the identification and fulfillment of the number and types of employees an organization requires to meet its objectives.

Planned Approach

A methodical strategy designed in advance to achieve a specific goal or to solve a particular problem.

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