I have a 9/30 client and I have their sept bank statement, bank rec, and oct bank statement. How would I test cut off? I see DIT on oct bank statement, but not all outstanding checks...what do I do?

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talk to your senior :) also the audit program tells you what you should test.

likehelpful

Look at audit planning, as the risk assessment drives the procedures performed.

For some clients, we’ll directly test a sample of DIT for existence as well as indirectly test outstanding checks by sampling the cleared checks in the subsequent month’s bank statement.

For other clients, there’s no risk of material misstatement for cash and we don’t perform any procedures.

It all depends on the planned procedures to address the risks.

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Thank you! Love you guys 😘😘

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