Operational audits of cash management seek to identify areas in which cash management may be improved to contribute to the overall profitability and effectiveness of the organization.The internal auditor would use which of the following procedures on an operational audit of cash?

Question

Quizplus · Accepted Answer

All of the given procedures are relevant for an operational audit of cash as they address different aspects of cash management. Determining compliance with company policy ensures that the organization's cash handling practices are aligned with the company's expectations. Reviewing procedures for identifying and investing excess funds helps to ensure that the organization is making the best use of its available cash. Reviewing procedures for handling cash receipts ensures that the organization's cash is being collected appropriately and efficiently. Therefore, all of the given procedures are necessary for a comprehensive operational audit of cash.

Operational Audits of Cash Management Seek to Identify Areas in Which