AUDIT WORK PROGRAM Page 1 of 2

AUDIT DEPT
Dept. / Division CASH & OTHER CASH FUNDS Period Covered:

AUDIT OBJECTIVES: To ascertain that cash funds are accounted for and properly presented and classified.

WP Done
Procedures By Date Comment
Ref Y/N?

1.) Planning
1.1 Identify all funds, their locations, custodians, amount
and purposes.

1.2 Decide which funds are to be counted, and when.

2.) Audit Fieldwork – in the presence of the Custodian:

2.1 List all currency and coins by denomination

2.2 Make sure that invoices or forms are pre-numbered

and sequentially used.

2.3 Conduct cut-off on used documents by affixing initial

and cut-off date on the back of last used invoice.

2.4 List other items – such as vouchers, checks in complete

detail. Schedule large items for further inquiry.

2.5 Trace fund balance per count to the GL.

2.6 List unusual items (post-dated checks, penciled vouchers,

unliquidated advances) for discussion with appropriate
level of client personnel.

2.7 Trace petty cash reimbursement checks included in the

fund to cash journal.

2.8 Let the Custodian sign the Count Sheet at the conclusion
of the count.

2.9 Prepare related working papers or schedules

3.) Reporting

3.1 Prepare summary of audit findings / observations.

3.2 Discuss the audit findings to the appropriate

management level and obtain corrective actions.

3.3 Prepare preliminary Audit Report and submit to the

immediate superiors

3.4 Edit the reports and prepare final Audit Report

9) SUPERVISION, REVIEW AND CONCLUSIONS

a) Prepare points regarding internal controls and other

business matters (audit report).
b) Perform senior review and supervision.
c) Clear senior review points.

PERFORMED BY: REVIEWED BY:

Internal Audit Staff Internal Audit

Supervisor
 AUDIT WORK PROGRAM Page 2 of 2

AUDIT DEPT
Dept. / Division CASH & OTHER CASH FUNDS Period Covered: