Documentos de Académico
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I. CASH ON HAND Name of Client: ___________________________________ Audit Date: _____________________________ W.P. Ref: _________________ Actual By: _________________ Time: ________ _____________ Audit Objectives: a. Determining that cash on hand as shown in the general ledger is represented by currency and coins on hand. b. Determining ownership and proper accountabilities c. Ascertaining that cash balances are available without restrictions. Audit Procedures: a. Examination of cash proof sheets and tracing of their totals to the general ledger b. Test tracing of deposit or withdrawal slips to individual subsidiary ledgers and vice versa. c. Conduct actual cash count. Remarks/Comments: ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________
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properly endorsed, canceled and filed, and duplicates of certificates are signed by authorized officers. g. Tests for unusual transactions shown on demand deposits subsidiary ledgers should be carried our particularly as regards withdrawals against uncollected out of town checks, unusually large deposits and temporary withdrawals in round figures, and accounts without addresses or with incomplete addresses. h. Recalculate interest paid and accrued on interest on deposits. Test service charge income to determine corrections of charges and compliance with bank policy. Remarks/Comments: ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________
Audit Procedures: a. Inspection of promissory notes issued and outstanding and other documentary evidences of the borrowings. Read loan agreements and ascertain compliance with restrictive covenants. b. Vouch subsequent payments or retirements of the specific liabilities and ascertain if the promissory notes or loan documents are properly canceled or retired. c. Send confirmation letters to selected creditors requesting them to confirm current balance, interest rate, pledged property and other items of the borrowings.
c. Review interest expense and accrued interest payable on borrowed funds for reasonableness. Remarks/Comments: ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________
d. Check whether the bank has complied with the minimum capital requirement and determine whether equity held by foreigners is within the allowable limit. e. Examine unused stock certificates, stubs and canceled certificates for proper accounting of used and unused certificates, payment of documentary and science stamps, and proper invalidation of cancellation. Verification of treasury share transactions for proper authorization and appropriate valuation. f. Confirm with transfer agent and agree confirmation reply with the recorded balances in the books for bank capital stock that are listed and custodial as well as record keeping is maintained by a transfer agent. g. Confirmation of any unpaid subscriptions should be considered. h. Analyze changes in the accounts and determine their propriety for surplus, surplus reserves and undivided profits. Checking of the minutes of board of directors meetings as well as to stockholders meetings for the dividends. Remarks/Comments: ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________
d. Investigate long outstanding and unusually large items as well as debit balances and followed up subsequent dispositions of such items. Remarks/Comments: ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________
b. Obtain a schedule for each class of capital stock showing shares authorized, par value per share, share issued, subscribed and in treasury. Details of the list should be traced to stockholders ledgers, and schedule totals should agree to general ledger control accounts. c. Testing the propriety of the entries in the stock and transfer book and stockholders ledgers. e. Check whether the ban has complied with the minimum capital requirement and determine whether equity held by foreigners is within the allowable limit. e. Examine unused stock certificates, stubs and canceled certificates for proper accounting of used and unused certificates, payment of documentary and science stamps, and proper invalidation of cancellation. Verification of treasury share transactions for proper authorization and appropriate valuation. f. Confirm with transfer agent and agree confirmation reply with the recorded balances in the books for bank capital stock that are listed and custodial as well as record keeping is maintained by a transfer agent. g. Confirmation of any unpaid subscriptions should be considered. h. Analyze changes in the accounts and determine their propriety for surplus, surplus reserves and undivided profits. Checking of the minutes of board of directors meetings as well as to stockholders meetings for the dividends. Remarks/Comments: ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________
a. Obtain a schedule of all income and expenses accounts and trace the amounts to the general ledger balances. b. See to it that all income and expenses figures in the schedule of balance sheet items are cross indexed to the related schedules of income and expenses. c. Scrutinize each income and expense account in the ledger and note whether the entries show material variations, unusual entries from month to month during the year. Investigate any material variations, unusual entries and adjustments. Compare the balance of each account with that of the preceding year and account for any significant variations not arising from differences in the level of activities or business volume. d. Obtain or prepare analyses of selected income and expense accounts on an overall basis or in summary form, showing the significant components of the account. Remarks/Comments: ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________
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