2.3.2 The internal auditor noticed that the outstanding deposit of R18 500 that appears on the Bank Reconciliation was reflected on the statement only as R8 500 (the correct amount must be R18 500). - What seems to be the problem? (2) - Why should the auditor be concerned about the difference? (2) - How can it be prevented in future? (2) - Which GAAP principle will the bookkeeper apply with the (2) above problem?
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The bank has only reflected a deposit of R8 500 instead of the correct amount of R18 500. This could be due to a clerical error or a mistake in the bank's system. - The auditor should be concerned about the difference because it affects the accuracy of the Show more…
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