Which of the following misstatements will NOT normally be discovered as part of the audit of the bank reconciliation?
A) Payment for raw materials that were not received
B) Improper payments of officers' personal expenditures
C) Payment to an employee for more hours than he or she worked
D) All of the above

Question

Quizplus · Accepted Answer

Bank reconciliations typically focus on ensuring that the recorded bank balance matches the actual bank statement balance, identifying timing differences, and detecting errors in recording transactions. Misstatements like payments for raw materials not received, improper payments of personal expenditures, or overpayment for hours worked are not directly related to bank reconciliation processes and are more likely to be detected through other audit procedures such as examining supporting documentation and internal controls.

Which of the Following Misstatements Will NOT Normally Be Discovered