The test of details of balances procedure that requires the auditor to foot the outstanding check and electronic payment 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 involving footings of outstanding checks and electronic payment lists and deposits in transit is a detail tie-in procedure. This procedure is performed to ensure that the amounts recorded in the bank reconciliation properly reflect the amounts presented in the general ledger. The detail tie-in procedure aims to satisfy completeness and accuracy audit objectives.

The Test of Details of Balances Procedure That Requires the Auditor