Discuss why cash is inherently high-risk item

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Discuss why cash is inherently a high-risk item on the balance sheet but not as high a risk to the actual audit program itself. Consider these questions: When is cash a high risk, and when is it a low risk? What are possible outcomes of re-performing a bank reconciliation? What would an auditor do when a discrepancy in the re-performance of the reconciliation of the cash account is discovered?

Reference no: EM131264425

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