When preparing a bank reconciliation, if the adjusted book balance and the adjusted bank balance are equal, then there is no need to have an external auditor test internal controls for the "cash" account.

Question

Quizplus · Accepted Answer

Even if the adjusted book balance and the adjusted bank balance are equal, it is still important for an external auditor to test internal controls for the "cash" account to ensure that the bank reconciliation was prepared accurately and that there are no errors or fraud in the cash account.

When Preparing a Bank Reconciliation, If the Adjusted Book Balance