Common audit procedures and risk assessment steps for cash and cash equivalents are detailed for new audit staff. Cash risks and audits There are many risks typically present in major balance sheet accounts, especially regarding cash. You can learn audit procedures related to cash by exploring topics, including: - Audit objectives and assertions for cash - Common client controls to mitigate risks associated with cash - Risk assessment for cash and establishing your risk of material misstatement (RMM). Applying your new knowledge You'll practice implementing what you learn through a realistic case study involving cash and cash equivalents. Who Will Benefit - Recently onboarded staff - First-year staff - Firms that want consistent training and level setting Key Topics - Relevant professional standards related to auditing cash - Cash and cash equivalents - Audit objectives and assertions for cash - Risk assessment for cash Learning Outcomes - Recall the audit objectives and related assertions in the cash and cash equivalents area. - Identify the basic audit procedures over the cash process, including those surrounding risk and fraud, and apply those procedures to a commonly encountered audit situation.