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CHAPTER 18 AUDITING INVESTMENTS AND CASH BALANCES Spring 2007 - page 18 / 26

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Understanding auditing cash balances

Relationship of Cash Balances to Trans. Cycles (fig 18-4)

Revenue cycles increases cash

Expenditure cycle decreases cash

Personnel services cycle decreases cash

Production cycle doesn’t directly affect cash

Financing and investing cycles both increase and decrease cash

 Cash balances may not be material, but the volume of transactions through the account almost always is – additionally, higher inherent risk of fraud

Auditing Cash Balances

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