What audit procedures might you perform if you were to decide that the risk of fraud involving the cash account was relatively high for this client?
What will be an ideal response?
Three procedures that auditors commonly perform with respect to the cash account are:
1. Extended bank reconciliation procedures
2. Proof of cash
3. Tests for kiting, usually involving comparison of check dates with deposit dates
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A. graphic rating scale B. behaviorally anchored rating scale C. forced-ranking scale D. global rating scale
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Indicate whether the statement is true or false