OPERATIONAL AUDITING TASK Members: Adanza, Andrea Baje, Jewel AD Boaquiña, Honeymay Calagui, Mary Joy Escopete, Debbie Jane

1. AUDIT PROGRAMME
CASH
Name of Client Sheridan AV
Year-end December 2021
Name of Auditor (s) Adanza, Andrea
Baje, Jewel AD
Boaquina, Honey May
Calagui, Mary Joy
Escopete, Debbie Jane
Cash relates to the monetary assets held by a company. Substantive testing should be
carried out at year end on the Statement of Financial Position to gain evidence regarding the
following assertions:
 Presentation and disclosure
 Accuracy classification and valuation
 Rights and Obligations
 Completeness and cut off
 Existence or Occurrence
The following substantive tests were carried out on the cash showing on the Statement of
Financial Position:
Audit Assertion Audit objective Test(s) to be carried out Details of testing Date and
signature
Presentation
and Disclosure
Monetary assets
are properly
identified and
classified in the
financial
statements.
Perform analytical
procedures:
Calculateratios
Analyseratio results
Check opening balances
to previous years’
accounts to ensure
properly brought
forward.
Check figures per the
cash book to the
financial statements to
ensure amounts have
been extracted correctly.
Compare statement
presentation with
applicableaccounting
standards to determine
that monetary assets are
The auditors calculatethe
ratios and re do the bank
reconciliation
The previous years accounts
was not shown
The balanceper cash book
has been re do and checked
by the auditor and is
extracted correctly
It has been compared to the
applicableaccounting
standards and was ableto
determine the lapses

2. properly identified and
classified in financial
statements.
Accuracy,
classification
and valuation
Monetary assets
are recorded at
the correct
balanceatthe
Statement of
Financial Position
date.
Request a bank
confirmation letter from
the bank(s) of which the
clientholds account(s),
obtainingauthorisation
from the clientwhere
not already held.
Re-perform the period
end bank reconciliation
checkingit has been
prepared correctly.
The bank gave the
confirmation letter to the
auditors of which the client
holds the account
It is reperformed and found
out that ithas not been
prepared correct as the
amount stated in the bank
was 249,505.03 whilethe
correct balanceper book
was 254,321.00
Rights and
Obligations
The entity owns
or has rights to
the monetary
assets at
Statement of
Financial Position
date.
Check that the bank
confirmation letter states
the monetary amount
held by the clientto
confirmownership.
The bank confirmation
responsegive the monetary
amount of the client
together with its account
number and sort code to
confirmownership
Completeness
and Cut off
The cash balance
per the Statement
of Financial
Position date
includes all
monetary assets
owned.
Check that the bank
confirmation letter does
not listany additional
accounts that have not
been recorded by the
client.
There are no additional
accounts listed on the
confirmation letter given by
the bank
Existence or
Occurrence
The monetary
assets recorded in
the Statement of
Financial Position
date exist.
Check that the bank
confirmletter confirms
the correct balancein
the account(s).
Confirm the existence of
any material reconciling
items within the bank
reconciliation (e.g.count
cash if a largeamount is
held outsideof bank).
The bank did not confirm
the correct balanceas the
balanceper cash book
amount is 254,321.00 while
the amount stated in the
bank was only 249,505.03
There is cash held in safe
deposited and cheques held
in safeto be deposit
From the audit work carried out I confirm that cashis properly valuated subject to corrections
and accurate data presentation, in my opinion, cash is fairly stated.
Signed
ANDREA ADANZA
JEWEL AD G. BAJE
HONEY MAY A. BOAQUINA

3. MARY JOY M. CALAGUI
DEBBIE JANE L. ESCOPETE
Auditor