The test of details of balances procedure that requires the auditor to foot the outstanding check list and deposits in transit is an attempt to satisfy which audit objective?
A)Cutoff
B)Presentation and disclosure
C)Detail tie-in
D)Completeness

Question

Quizplus · Accepted Answer

The test of details of balances procedure that requires the auditor to foot the outstanding check list and deposits in transit is a technique to ensure that the amounts recorded in the client's books reconcile to the bank statement. This reconciling procedure is known as detail tie-in and is used to satisfy the audit objective of ensuring that all transactions that should have been recorded have been recorded in the client's financial statements.

The Test of Details of Balances Procedure That Requires the Auditor