The following ten (10) statements relate to the Cash & Revenue amounts reported in the financial statements prepared by management for the year end audit. From the auditor's perspective management makes assertions about the amounts & disclosures in the financial statements. Read each of the following statements for Cash & Revenue and identify the relevant audit assertion. Each statement contains an audit objective for Cash & Revenue amounts, followed by what could go wrong with that amount.

CASH (4): Audit objective: All the cash that exists is included in the balance. What could go wrong: The company has failed to record outstanding deposits.

• Ownership

• Valuation

• Presentation

• Existence

• Completeness