What controls can be used:

a) to make sure cash accounts are accurate

b) to make sure cash receipts are appropriately recorded

c) to limit access for individuals who can initiate electronic transfers of cash

M Search results - Cecilia zaguirre X Take Test: Chapter 10: End of Che X My Home X + & C southtexascollege.blackboard.com/webapps/assessment/take/launchjsp?course_assessment_id=_841797_1&course_id=_308578_1&content_id=_11797374_1&step=null ( C Question Completion Status: Objective Examples of Controls Tested Working 1. Cash accounts are Client management Review evidence of manage- There might be unusual accurate, reviews monthly bank ment reviews and determine cash transactions caused reconciliations completed if evidence is persuasive that by fraud or errors. The audi- by employees the reviews are effective tor will prepare a year-end leg., review the frequency of bank reconciliation using control determine its offer the client's cash records and tiveness through reviews a bank cutoff statement of reports and evaluate Expand confirmations descriptions of comective actions taken). 2. Cash receipts are a. There is segregation of a. Perform a walkthrough a. If there exists inadequate appropriately recorded. duties between those of the processing of segregation of duties handling cash and cash collections. Review between cash received those recording cash documentation providing and cash deposited transactions evidence of segregation of employees can steal duties. cash and covering it up b. Remittance advices are with a lapping scheme prepared for cash receipts. b. Same as (al. The auditor will expand confirmations with cus tomers, select a sample of daily deposits and trace to accounts receivable credits for payments b. Same as (a) 3. Limit access for individuals Appropriate procedures Review procedures for If there exists lack oversight who can initiate electronic exist for authorizing passwords and access in this regard, a fraudster transfers of cash passwords or other access codes and obtain related could inappropriately access codes related to initiating documentation cash. The auditor will review electronic transfers of cash. a list of individuals who have access to initiating elec tronic transfers of cash. The auditor may elect to perform background checks on some of these individuals on a random basis, alerting all such individuals to this fact (as a deterrent). Click Save and Suburit to save and submit. Click Save All Answers to save all answers TALANA Save and Submit Type here to search EH 78F Clear 40 10:19 PM 10/23/2021 M Search results - Cecilia zaguirre X Take Test: Chapter 10: End of Che X My Home X + & C southtexascollege.blackboard.com/webapps/assessment/take/launchjsp?course_assessment_id=_841797_1&course_id=_308578_1&content_id=_11797374_1&step=null ( C Question Completion Status: Objective Examples of Controls Tested Working 1. Cash accounts are Client management Review evidence of manage- There might be unusual accurate, reviews monthly bank ment reviews and determine cash transactions caused reconciliations completed if evidence is persuasive that by fraud or errors. The audi- by employees the reviews are effective tor will prepare a year-end leg., review the frequency of bank reconciliation using control determine its offer the client's cash records and tiveness through reviews a bank cutoff statement of reports and evaluate Expand confirmations descriptions of comective actions taken). 2. Cash receipts are a. There is segregation of a. Perform a walkthrough a. If there exists inadequate appropriately recorded. duties between those of the processing of segregation of duties handling cash and cash collections. Review between cash received those recording cash documentation providing and cash deposited transactions evidence of segregation of employees can steal duties. cash and covering it up b. Remittance advices are with a lapping scheme prepared for cash receipts. b. Same as (al. The auditor will expand confirmations with cus tomers, select a sample of daily deposits and trace to accounts receivable credits for payments b. Same as (a) 3. Limit access for individuals Appropriate procedures Review procedures for If there exists lack oversight who can initiate electronic exist for authorizing passwords and access in this regard, a fraudster transfers of cash passwords or other access codes and obtain related could inappropriately access codes related to initiating documentation cash. The auditor will review electronic transfers of cash. a list of individuals who have access to initiating elec tronic transfers of cash. The auditor may elect to perform background checks on some of these individuals on a random basis, alerting all such individuals to this fact (as a deterrent). Click Save and Suburit to save and submit. Click Save All Answers to save all answers TALANA Save and Submit Type here to search EH 78F Clear 40 10:19 PM 10/23/2021