Flippin' Birds Co. Audit Program Steps (APS) for Cash For the year ended December 31, 2010 Managements Assertion(s) Workpaper each APS step is designed Audit Procedures Initial Date Ref to address Description of Error or Concern 1. Obtain Cutoff Bank Statements and Confirmations returend by the bank; Scan and review. MIF 1/12/2019 C-3a, C48, C58; C-3b, C-4b, C-5b Existence, Accuracy 2. Obtain copies of the client's bank reconciliations and perform the following for each account: A. Test the mathematical accuracy of each bank reconciliation. Trace the line item "Balance Per Bank Statement" on each bank reconciliation to the B related Bank Confirmation and to the Cutoff Bank statement to ensure that the beginning balances on the reconciliations exists, is accurate, and is not overstated. Trace the amount of any deposits in transit on each of the bank reconciliations to the respective Cutoff Bank Statements for each account, and then to the respective Cash C. Receipts Journal for each account. Ensure that deposits in transit recorded on the bank reconciliation Exist, amounts are Accurate, and are recorded in the proper Period. Investigate unexpected differences, including unusual timing differences of more than 7 days. Trace the amount and check number of any items listed in the December section of each Cash Disbursements Journal to the December 2010 Bank Statement. Then trace any D. items from the December Cash Disburesements Journal that do not clear the December Bank Statement to the outstanding checks list on the Bank Reconciliation. Ensure that the outstanding checks list on the Bank Reconciliation is complete, amounts are accurate. Investigate any missing items or inaccurate amounts. 3. "In the presence of client personnel, count cash on hand. MJF 1/12/2019 C-6 Existence, Accuracy None Inquire with management about any cash restrictions and review responses for disclosure MIF 1/12/2019 C-7 Disclosure, Classification None requirements. Agree the adjusted balance on each Bank Reconciliation to the ending Audited Balance in the Leadsheet. Ensure any audit adjustments are also carried forward to the leadsheet