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    15 - Outline - Audit of Cash and Cash Equivalents

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    Phương Lê
    This document outlines an internship report on auditing cash and cash equivalents for an auditing major. The report will include 3 chapters: 1) characteristics of auditing cash and cash equivalents at XYZ Audit Firm, 2) practice of auditing cash and cash equivalents illustrated with 1-2 client cases, and 3) assessments and recommendations for improving XYZ's cash audit process. Chapter 1 describes accounting for and controls over cash, common misstatements, and XYZ's audit objectives and process. Chapter 2 demonstrates the audit planning, implementation, and completion at 1-2 clients. Chapter 3 assesses strengths and weaknesses, and provides recommendations. The report aims to educate on XYZ's cash audit procedures and identify areas for enhancement.

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    15 - Outline - Audit of Cash and Cash Equivalents

    Uploaded by

    Phương Lê
    13 views2 pages
    This document outlines an internship report on auditing cash and cash equivalents for an auditing major. The report will include 3 chapters: 1) characteristics of auditing cash and cash equivalents at XYZ Audit Firm, 2) practice of auditing cash and cash equivalents illustrated with 1-2 client cases, and 3) assessments and recommendations for improving XYZ's cash audit process. Chapter 1 describes accounting for and controls over cash, common misstatements, and XYZ's audit objectives and process. Chapter 2 demonstrates the audit planning, implementation, and completion at 1-2 clients. Chapter 3 assesses strengths and weaknesses, and provides recommendations. The report aims to educate on XYZ's cash audit procedures and identify areas for enhancement.

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    15_ Outline - Audit of cash and cash equivalents

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    This document outlines an internship report on auditing cash and cash equivalents for an auditing major. The report will include 3 chapters: 1) characteristics of auditing cash and cash equivalents at XYZ Audit Firm, 2) practice of auditing cash and cash equivalents illustrated with 1-2 client cases, and 3) assessments and recommendations for improving XYZ's cash audit process. Chapter 1 describes accounting for and controls over cash, common misstatements, and XYZ's audit objectives and process. Chapter 2 demonstrates the audit planning, implementation, and completion at 1-2 clients. Chapter 3 assesses strengths and weaknesses, and provides recommendations. The report aims to educate on XYZ's cash audit procedures and identify areas for enhancement.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    13 views2 pages

    15 - Outline - Audit of Cash and Cash Equivalents

    Uploaded by

    Phương Lê
    This document outlines an internship report on auditing cash and cash equivalents for an auditing major. The report will include 3 chapters: 1) characteristics of auditing cash and cash equivalents at XYZ Audit Firm, 2) practice of auditing cash and cash equivalents illustrated with 1-2 client cases, and 3) assessments and recommendations for improving XYZ's cash audit process. Chapter 1 describes accounting for and controls over cash, common misstatements, and XYZ's audit objectives and process. Chapter 2 demonstrates the audit planning, implementation, and completion at 1-2 clients. Chapter 3 assesses strengths and weaknesses, and provides recommendations. The report aims to educate on XYZ's cash audit procedures and identify areas for enhancement.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    NATIONAL ECONOMICS UNIVERSITY

    SCHOOL OF ACCOUNTING AND AUDITING

    OUTLINE – INTERNSHIP REPORT – PHASE II


    MAJOR: AUDITING

    TOPIC: AUDIT OF CASH AND CASH EQUIVALENTS IN FINANCIAL AUDITS


    CONDUCTED BY XYZ AUDIT FIRM

    TABLE OF CONTENTS
    LIST OF ABBREVIATIONS
    LIST OF TABLES AND FIGURES

    INTRODUCTION
    - Rationale for the research
    - Report’s structure

    CHAPTER 1:
    CHARACTERISTICS OF AUDIT OF CASH AND CASH EQUIVALENTS IN
    FINANCIAL AUDITS CONDUCTED BY XYZ AUDIT FIRM (2.0 marks)

    1.1. Characteristics of cash and cash equivalents of clients affecting financial audits
    1.1.1. Features of cash and cash equivalents on financial statements
    1.1.2. Accounting for cash and cash equivalents
    Students should briefly describe the accounting for cash and cash equivalents,
    including: vouchers, accounts, accounting books related to cash and cash equivalents
    1.1.3. Common misstatements related to cash and cash equivalents
    1.1.4. Internal controls over cash and cash equivalents
    Describe control activities designed to prevent, detect and correct possible
    misstatements related to cash and cash equivalents

    1.2. Audit objectives of auditing cash and cash equivalents in financial audits conducted
    by XYZ Audit Firm
    Describe general audit objectives and specific audit objectives developed by the Audit
    Firm when auditing cash and cash equivalents
    1.3. Audit of cash and cash equivalents in financial audits process conducted by XYZ
    Audit Firm
    Describe the steps to be performed in financial audits process for cash and cash
    equivalents conducted by XYZ Audit Firm in following phases:
    1.3.1. Planning the audit
    1.3.2. Implementing the audit
    1.3.3. Completing the audit

    Note: The content of Chapter 1 describes only general guidelines of the Audit Firm rather
    than specific clients.

    CHAPTER 2:
    PRACTICE OF AUDIT OF CASH AND CASH EQUIVALENTS IN FINANCIAL
    AUDITS CONDUCTED BY XYZ AUDIT FIRM – AT SPECIFIC CLIENT(S) (5.0
    marks)
    NATIONAL ECONOMICS UNIVERSITY
    SCHOOL OF ACCOUNTING AND AUDITING

    From Section 2.1. to 2.3: Students should illustrate and describe the audit of cash and
    cash equivalents in financial audits process at one or two specific client(s) with different
    characteristics, such as: new client or existing client; clients in different business sectors.

    2.1. Planning the audit


    Describe in detail the steps in this phase conducted by the Audit Firm at the specific
    client(s) (accompanied by working papers to illustrate). Specially, it is necessary to introduce
    "Audit Program(s)" for cash and cash equivalents.

    2.2. Implementing the audit


    Describe the audit procedures performed by auditors for cash and cash equivalents
    (accompanied by working papers to illustrate).
    2.2.1. Performing tests of controls
    2.2.2. Performing analytical procedures
    2.2.3. Performing tests of details

    2.3. Completing the audit


    Students should describe the results of auditing cash and cash equivalents and the
    influence of these results on the final audit opinion.

    Note: If students choose two clients to illustrate the audit of cash and cash equivalents in
    financial audits process, students need to compare the audit process of these two clients,
    thereby pointing out the differences in the characteristics of clients affecting the content of
    audit process.

    CHAPTER 3:
    ASSESSMENTS AND RECOMMENDATIONS FOR IMPROVING THE AUDIT OF
    CASH AND CASH EQUIVALENTS IN FINANCIAL AUDITS CONDUCTED BY XYZ
    AUDIT FIRM
    (2.0 marks)
    3.1. Assessments of the audit of cash and cash equivalents in financial audits process
    conducted by XYZ Audit Firm
    3.1.1. Strengths
    3.1.2. Weaknesses and causes
    3.2. Recommendations for improving the audit of cash and cash equivalents in financial
    audits process conducted by XYZ Audit Firm
    Propose recommendations associated with identified weaknesses and causes.

    CONCLUSION
    REFERENCES
    APPENDIX (If available)
    Confirmation of the Audit Firm

    Assessment and grading policy:


    - The form of the report: 1 mark
    - The content of the report: 9 marks
    - The report must include three chapters with a minimum of 50 pages

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