Auditing the CASH account - tests of controls and substantive testing

Do you have a test for auditing cash that you'd like to share with our community? Leave it in the comments 😊

00:00 Introduction
01:02 Typical controls over cash
04:31 Tests of internal controls
07:38 Substantive testing

Confirmations via an online service - https://www.confirmation.com/helps/auditors/index.html

Definitely consider following Brian Fox on LinkedIn - he shares a lot of great content about auditors and fraud
https://www.linkedin.com/in/brianfoxcpa/

The fraud at ING where A$45m was stolen because of poor internal controls - https://www.smh.com.au/national/nsw/fifteen-years-jail-for-fraudsters-45-million-luxury-shopping-spree-20120210-1scm3.html

You'll be auditing cash when auditing many related accounts such as
Sales - https://youtu.be/uIwGi83AB8M
Acc Receivables - https://youtu.be/AJkNeELgqhI
Payroll - https://youtu.be/8zFlO9UFJnI
Bank loans - https://youtu.be/L15pTyphVEA
Leases - https://youtu.be/ZEtShQ49Olk
Acc Payable - https://youtu.be/fjqTcVONjjw
Expenses - https://youtu.be/bynpFdsrRq8

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