Required:owing the following steps in Audit Enga. Outline the necessary steps you must take to gather sufficient evidence toconvince you that the total cash and cash equivalents is in deed,$9,900,000.Reporting of your audit findse boat to the point onsot your Audi!above stepsb. What amount of evidence in quantity and quality will convince you thatyour audit risk is very small? Be brief and to the point. You have been engaged and you happily accepted to provide audit services toABC Corporation, an S Corporation Company. The Company has in its balancesheet as cash, the following:i.ii.Cash EquivalentsCash in three Bank accounts of:a. Chase Morganb. Regionsc. American Bank.$ 2,500,0005,000,000900,000Total Bank Account balancesTotal of Cash and Cash Equivalents$ 1,500,000.008,400,000.009,900,000.00

Auditing is the examination of the financial reports of the company to ascertain reasonable…

You have been engaged and you happily accepted to provide audit services to ABC Corporation, an S Corporation Company. The Company has in its balance sheet as cash, the following: i. ii. Cash Equivalents Cash in three Bank accounts of: a. Chase Morgan b. Regions c. American Bank. $ 2,500,000 5,000,000 900,000 Total Bank Account balances Total of Cash and Cash Equivalents $ 1,500,000.00 8,400,000.00 9,900,000.00

You have been engaged and you happily accepted to provide audit services to ABC Corporation, an S Corporation Company. The Company has in its balance sheet as cash, the following: i. ii. Cash Equivalents Cash in three Bank accounts of: a. Chase Morgan b. Regions c. American Bank. $ 2,500,000 5,000,000 900,000 Total Bank Account balances Total of Cash and Cash Equivalents $ 1,500,000.00 8,400,000.00 9,900,000.00

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 2AP

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