Discuss why cash is inherently a high-risk item on the, Ask an Expert

Accounting

Discuss why cash is inherently a high-risk item on the balance sheet but not as high a risk to the actual audit program itself.

Consider these questions: When is cash a high risk, and when is it a low risk? What are possible outcomes of re-performing a bank reconciliation?

What would an auditor do when a discrepancy in the re-performance of the reconciliation of the cash account is discovered?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92018739

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