Which of the following audit procedures is the most appropriate when internal control over cash is weak or when an entity requests an investigation of cash transactions?
A)Proof of cash.
B)Bank reconciliation.
C)Cash confirmation.
D)Evaluate ratio of cash to current liabilities.

Question

Quizplus · Accepted Answer

Proof of cash is the most appropriate audit procedure when internal control over cash is weak or when an entity requests an investigation of cash transactions. It involves reconciling the bank's records with the company's records for a specific period, providing a thorough check of cash transactions.

Which of the Following Audit Procedures Is the Most Appropriate