Which of the following misstatements will normally be discovered as part of the audit of the bank reconciliation?
A) payment for raw materials that were not received
B) payments on loans debited directly to the bank account but not entered in the client's records
C) payment to an employee for more hours than he or she worked
D) all of the above

Question

Quizplus · Accepted Answer

The audit of the bank reconciliation will normally uncover unrecorded debits or credits to the bank account, such as payments on loans debited directly to the bank account but not entered in the client's records. However, misstatements related to purchases or payroll would not necessarily be identified through the bank reconciliation process.

Which of the Following Misstatements Will Normally Be Discovered as Part