Posted: May 9th, 2017

During the count of cash on hand, it is NOT necessary for the auditor to:

During the count of cash on hand, it is NOT necessary for the auditor to:
insist on the presence of the custodian of the cash throughout the count.
insist on the presence of an internal auditor throughout the count.
obtain a signed receipt from the custodian on return of the funds.
control both cash and non-cash negotiable instruments held by the client.