You are the auditor of Bottlenose Ltd and planning the audit for the year ended 30 June

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You are the auditor of Bottlenose Ltd and planning the audit for the year ended 30 June 2015. The company has various bank accounts for which bank reconciliations are prepared monthly. The company has recently borrowed money from the bank to finance a new asset acquisition.

Required

Explain the audit procedures that will be carried out on the bank and loan amounts and describe the procedures to be followed in obtaining a bank letter.

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Modern Auditing And Assurance Services

ISBN: 9781118615249

6th Edition

Authors: Philomena Leung, Paul Coram, Barry J. Cooper, Peter Richardson

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