Surgent's Auditing Cash and Cash Equivalents (Audit Skills Training: Level 1) (A1M8)

Description

Cash tends to be one of the first areas assigned to new auditors, as there is typically little complexity and subjectivity involved. In addition, persuasive audit evidence from a third-party is generally available. However, research shows that around 80% of asset misappropriation relates to cash. Therefore, the audit of accounts and classes of disclosures related to cash and cash equivalents does tend to carry risk of material misstatement.

Designed For

Professionals new to auditing cash and cash equivalents