Cash and Bank Audit Procedures Guide
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CASH Cash and Bank
Audit Objectives:
The audit must provide sufficient and competent evidence that serves as a reasonable basis.
to express an opinion that:
1. The registrations are supported on a real and certain basis and are adapted to the
legal requirements.
The operations are supported by documents that gather the
requirements demanded by accounting principles and the Tax Administration.
Audit Tests:
BOX
1. Perform the account balancing and verify that there are no balances in
discovered. (Red balance).
2. Check that there are no entries corresponding to a specific date and
that were settled on an earlier date to regularize the creditor balances of
box.
3. Check that there are no received checks in payment that have been rejected by the banks.
that the cancellation has not been recorded, resulting in a fictitious availability.
4. Check the cancellation or amortization date of the supplier invoices.
and I checked the accounting dates.
5. Check that there are no duplicate payments that are being recorded twice.
6. Identify those cash income items from loans and
observe the supporting documents. (In the corporations, it may appear in the account
of advances for future subscriptions).
7. Check those loans that are shown at the end of the fiscal year and are canceled.
just starting the next exercise or that are renewed permanently.
8. Check if there are cash contributions from shareholders to accounts
future capital integrations.
Analyze the antiquity of their correspondence.
9. Check if the cash documents meet the formal requirements.
corresponding.
BANK
1. Verify that all bank accounts are in the company's name and
they are properly recorded in the accounting. -obtain certainty that
There are no unaccounted bank accounts.
2. Confirm the balances with all financial entities (with or without
balance as of the cut-off date) with which the company operates.
3. Check for the existence of unrecorded bank accounts, which can be
locate through the review of payment receipts.
4. Review the concepts for which the checks have been issued in order to detect
Client: Fecha de Corte:
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Description of the tasks
Ref. Fact
Date
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Cash Box and Bank
withdrawals of funds by the owner.
5. Practice bank reconciliation in order to verify the accuracy of the balance.
expressed in the financial statements.
6. Check that the debit notes for opening letters of credit correspond.
to all imports made and accounted for.
7. Relacione los saldos al cierre que se presentan en la cuenta caja con respecto a
the bank balances, in order to detect if the bank loans have been
applied in the operation of the company.
8. Verify that the bank deposits originate from sales or collections of the
firm.
9. Check if there are capital contributions or current account deposits that can
representing sales omission.
10. Check if the bank documents meet the formal requirements
corresponding.