Question 15 (of 15) 15 value: 1.00 points Auditors perform a number of procedures relating to cash -some unique, some not unique. For each ubstantive procedure below, identify its primary objective or indicate that the The primary objective of the procedure may be selected once, or not at all Replies A primary objective of the procedure is to 1Detect kiting 2.Detect lapping 3. Determine that receivables are converted to cash in a reasonable amount of time 4. Estabilish the valuation of cash to reflect currency translation losses and gains. Reconcile cash receipt and disbursement totals between company records and bank records. 6. Verity reconciling items on the year-end bank reconciliation. .Verify year-end cash and liability balance information 8. Identify related party transactions 9. None. This procedure serves no purpose related to cash Substantive Procedures a. Prepare a bank transfer schedule b. Prepare a four-column proof of cash C. Use a standard confirmation form to confirm account balance information d. Obtain bank cutoff statements e. Search for large checks to directors, officers, and employees 8 O Type here to search