What is meant by a proof of cash receipts


Response to the following questions:

1. List several audit procedures that the auditor can use to determine whether all cash received was recorded.

2. Explain what is meant by a proof of cash receipts and state its purpose.

3. Explain what is meant by lapping and discuss how the auditor can uncover it. Under what circumstances should the auditor make a special effort to uncover lapping?

 

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Auditing: What is meant by a proof of cash receipts
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