Question
Read all steps in the audit program for cash found on Work Paper 16-1 and familiarize yourself with work papers 16-1 through 16-7. Complete steps
Read all steps in the audit program for cash found on Work Paper 16-1 and familiarize yourself with work papers 16-1 through 16-7. Complete steps 2, 3, 5, 9, 10, and 12. Be sure to document your work using the designated tick marks. You will select the correct tick mark from the drop down menu in the highlighted cells on each work paper. The tick mark legend is located at the bottom of each work paper. If you find an error in performing a procedure, select "Error" from the drop down menu. When you have completed each step, document the results of your work, noting any errors, concerns, adjustments, and/or recommendations on Work Paper 16-1. On the worksheet labeled "Evaluation", identify at least one assertion substantiated (tested) by the audit procedures you performed (steps 2, 3, 5, 9, 10, and 12 listed in Work Paper 16-1) and identify what potential errors could be detected by performing the procedure. Please print a hard copy of the Evaluation worksheet and Work Papers 16-1, 16-2, 16-3, 16-4, 16-5, 16-6, 16-7 to submit in class unless otherwise indicated by your instructor. The work papers are formatted to fit on one page.
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