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Explain in summary of how an auditor audited cash and marketable securities.

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Accounting

Explain in summary of how an auditor audited cash and marketablesecurities.

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Cash Cash is an area with high fraud risk especially when the internal control is weak Control procedures and Test of controls related to cash receipts and cash disbursements were covered above in the discussions of the revenue cycle and the expenditure cycle Segregation of duties demands that close consideration be given to check writing authority Separation of cash handling record keeping and reconciliation of bank statements should exist as well as separation of petty cash activities Good internal control for cash would include the use of a voucher system for cash disbursements Primary audit procedure performed due to the    See Answer
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