For audit clients having a treasurer, the auditor should inquire whether the treasurer has reviewed the financial statement disclosures related to cash receipts for relevance and understandability.

Question

Quizplus · Accepted Answer

The auditor should inquire whether the treasurer has reviewed financial statement disclosures related to cash receipts for relevance and understandability as part of their responsibilities for internal control over financial reporting. This can help ensure that the financial statements are accurate and complete.

For Audit Clients Having a Treasurer, the Auditor Should Inquire