6-33 (OBJECTIVES 6-8, 6-9) The following are specific transaction-related audit objectives applied to the audit of cash disbursement transactions (a. through f.), management assertions about classes of transactions and events and related disclosures (1 through 6), and general transaction-related audit objectives (7 through 13).

Specific Transaction-Related Audit Objective

a. Existing cash disbursement transactions are recorded.

b. Recorded cash disbursement transactions are for the amount of goods or services received and are correctly recorded.

c. Cash disbursement transactions are properly included in the accounts payable master file and are correctly summarized.

d. Recorded cash disbursements are for goods and services actually received.

e. Cash disbursement transactions are properly classified.

f. Cash disbursement transactions are recorded on the correct dates. Management Assertion About Classes of Transactions General Transaction-Related Audit Objective

1. Occurrence 2. Completeness 3. Accuracy 4. Classification 5. Cutoff 6. Presentation 7. Occurrence 8. Completeness 9. Accuracy 10. Posting and summarization 11. Classification 12. Timing 13. Presentation

a. Explain the differences among management assertions about classes of transactions and events and related disclosures, general transaction-related audit objectives, and specific transaction-related audit objectives and their relationships to each other.

b. For each specific transaction-related audit objective, identify the appropriate management assertion.

c. For each specific transaction-related audit objective, identify the appropriate general transaction-related audit objective.