When auditing the year-end cash balance, one of the areas of focus is on the accuracy objective.

Question

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The accuracy objective is one of the primary objectives of auditing the year-end cash balance. This objective requires the auditor to ensure that the cash balance is accurately stated in the financial statements. This involves verifying that all cash transactions have been recorded correctly, that the balance ties to bank records, and that any adjustments or reconciling items are properly documented and supported.

When Auditing the Year-End Cash Balance, One of the Areas