Complete the table with assertion, and recommended audit procedure that apply: Possible Assertion Audit Procedures Misstatement Cash is understated because not all cash receipts are recorded or disbursement were not recorded. Cash is overstated because the entity does not have legal title or similar right of ownership to amounts reflected in the accounts. Restrictions on the availability of funds are not properly disclosed.

Complete the table with assertion, and recommended audit procedure that apply: Possible Assertion Audit Procedures Misstatement Cash is understated because not all cash receipts are recorded or disbursement were not recorded. Cash is overstated because the entity does not have legal title or similar right of ownership to amounts reflected in the accounts. Restrictions on the availability of funds are not properly disclosed.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter9: Auditing The Revenue Cycle.

Section: Chapter Questions

Problem 30CYBK

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How do you asess the risk of material misstatement associated with the audit of cash?