An interbank transfer schedule:
A)is another name for the proof of cash.
B)helps the auditor test for kiting.
C)is on a standard bank confirmation.
D)is used to examine entity bank reconciliations.

Question

Quizplus · Accepted Answer

An interbank transfer schedule helps the auditor test for kiting by tracking the movement of funds between banks to ensure that they are not being recorded multiple times to inflate cash balances artificially.

An Interbank Transfer Schedule