Audit Procedures for Bank (2) Flashcards
Bank arithmetic reconciliation (Valuation)
Reperform arithmetic of bank reconciliation
Bank reconciliation year-end items cleared (Valuation)
Review bank reconciliation previous to year-end bank reconciliation and test whether all items are cleared in the last period or taken forward to the year-end bank reconciliation
Bank contra items bank statements original entry (Valuation)
Verify contra items appearing in cash book or bank statements with the original entry
Bank slips uncleared bankings (Valuation)
Verify by inspecting paying-in slips that uncleared bankings are paid in prior to uear end
Bank lodgements payment bank presentation amount (Valuation)
Exanube all lodgements in respect of which payment has been refused by the bank; ensure that they are cleared on re-presentation or that other appropriate steps have been taken to effect recovery of amount due
Bank bank balances bank letter (Valuation)
Verify the bank balances with reply to standard bank letter and with the bank statements
Bank cash book exceptional entries material effect (Valuation)
Inspect the cash book and bank statements before and after year end for exceptional entries or transfers which have a material effect on balance shown to be in hand