The auditors' information source for vouching the bank reconciliation items is the
A) Standard bank confirmation.
B) Bank statement at audit date.
C) Cutoff bank statement.
D) Accounting journal at year end.

Question

Quizplus · Accepted Answer

The cutoff bank statement is used by auditors to verify the reconciling items on the bank reconciliation, as it includes transactions that occurred shortly after the audit date.

The Auditors' Information Source for Vouching the Bank Reconciliation Items