1. Reviewing monthly bank reconciliations completed by employees ensures that cash access is limited to appropriate individuals.

True

False

2.Some of the auditors responsibility can extend beyond the balance sheet date.

True

False

3.Substantive analytics for cash accounts are typically not very effective.

True

False

4.A key source of information for the auditor when it comes to confirmation of loss contingencies are specialists such as legal counsel.

True

False

5.The auditor is responsible for designing and maintaining policies and procedures to identify, evaluate and account for loss contingencies.

True

False