When counting cash on hand the auditor must exercise simultaneous control over all cash and other negotiable assets to prevent:
A)theft.
B)irregular endorsement.
C)replacement or substitution of stolen assets.
D)deposits in transit.

Question

Quizplus · Accepted Answer

The auditor exercises simultaneous control over all cash and other negotiable assets during the count to prevent replacement or substitution of stolen assets, ensuring the integrity of the audit process.

When Counting Cash on Hand the Auditor Must Exercise Simultaneous