Audit. Checking cash transactions during an audit (most important)

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Audit. Checking cash transactions during an audit (most important)

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38. VERIFICATION OF CASH TRANSACTIONS DURING AUDIT

The main purpose of the test - establishing the legality, reliability and expediency of transactions with funds, the correctness of their reflection in accounting.

Information sources:

▪ Cash book.

▪ Book of registration of incoming and outgoing cash orders.

▪ Cashier's reports with attached primary documents.

▪ Synthetic and analytical accounting registers for account 50 “Cash”.

Verification plan and program. During the audit of cash transactions, the following tasks are solved:

1) study of the actual procedure for documenting operations for the receipt and expenditure of funds;

2) keeping a cash book of accounting of cash transactions;

3) verification of compliance with cash discipline (timeliness, completeness of posting of cash and return to the bank in excess of the limit of cash balances);

4) establishment of the rule of cash settlement with legal entities;

5) the procedure for issuing accountable amounts;

6) intended use of funds received by checks;

7) application of KKM;

8) familiarization with the conditions of storage of cash, securities and other monetary documents at the cash desk of the organization.

During the audit, the following points are checked and clarified:

1) correctness of documentary registration (presence of all documents, signatures);

2) legality of cash transactions and their compliance with the requirements of regulatory documents;

3) completeness, timeliness and correctness of posting of cash as a result of receipts from the bank, return of accountable amounts, receipts of proceeds and other operating income and expenses;

4) spending cash from the cash desk (legal validity of the issuance of money - the presence of orders and orders for bonuses to employees, the provision of material assistance, business trips, the issuance of funds for entertainment expenses on writ of execution);

5) validity of allocation of VAT in PKO, RKO;

6) compliance with the established limit of cash settlements between legal entities;

7) facts of payment to employees of production economic expenses without issuing advance reports;

8) facts of repeated payment according to previously executed documents;

9) facts of payments to nominees, etc.;

10) correctness of entries on account 50;

11) the organization of analytical accounting of all monetary documents stored at the enterprise (vouchers, travel tickets, etc.) is checked.

Summarizing the test results. Auditor Working Papers. Identified violations and errors are recorded in the auditor’s working document. The working document can be drawn up in the form of a table of violations indicating the characteristics of the violation, the regulatory document that was violated, as well as the auditor’s recommendations for eliminating the violation. At the final stage of the audit, a working document can be drawn up to assess the impact of violations on the financial statements.

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