Problem

In the audit of cash, the auditor obtains a bank cutoff statement primarily toA. Identify...

In the audit of cash, the auditor obtains a bank cutoff statement primarily to

A. Identify old outstanding checks that the client may exclude from the year-end bank reconciliation in order to misappropriate cash.

B. Obtain sufficient information to reconcile the client’s bank account as of year-end.

C. Obtain direct confirmation of the client’s bank balances as of year-end.

D. Test the propriety of items appearing on the client’s year-end bank reconciliation.

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