The methodology for auditing year-end cash is generally the same as the auditing for all other balance sheet accounts.

Question

Quizplus · Accepted Answer

Auditing year-end cash follows the same methodology as auditing other balance sheet accounts, which includes assessing the adequacy of internal controls, collecting and analyzing supporting documentation, and performing substantive testing to verify the accuracy of the account balance.

The Methodology for Auditing Year-End Cash Is Generally the Same