I’m taking an undergrad auditing class right now in the US (4 more classes until I graduate) and I’ve watched so many of your videos. My book is almost useless to me, worst text ever (and this is my 5th degree, so I’ve read a lot of text books). You’re SO helpful, I’ve cited you several times in my papers, lol. Oh, and I have 100% in my class so far 😎 I appreciate you! 💖
@preenuphilip46054 жыл бұрын
I must say this!! I had very low marks on my first adv aud assignment. That's when I discovered you! I am so happy and am improving my grades. Thanks a ton, Amanda! Love from Canada! (cas standards)
@amandalovestoaudit4 жыл бұрын
Hi Preenu - this is so good to hear - keep it up 👍
@JG-wb4nq3 жыл бұрын
Im an external auditor and I appreciate a lot the work you do. Keep up with the valuable content 🇲🇿
@amandalovestoaudit3 жыл бұрын
You’re so welcome! Thanks for watching and leaving a comment 🙏☺️
@abhisheklivestreams3 жыл бұрын
12:06 The limit up to which bank is authorized to hold cash, we verify it physically and for any transfer to central bank/head bank, we verify the transfer documents and seek confirmation of course. #LovefromIndia :)
@reddyfab12913 жыл бұрын
I really appreciate this, because my professor makes no sense. I have to be searching for assistance because she doesn't lecture at all, so i am very grateful for this.
@amandalovestoaudit3 жыл бұрын
I'm sorry to hear you're having a hard time understanding your prof - glad these were helpful - good luck in your exams! 😊
@jackkieya86292 жыл бұрын
Good work DR,keep it up.I found this helpful since am an internal auditor from Kenya.
@massiveattackdrop4 жыл бұрын
Dear Amanda i passed Advanced Audit and Assurance. Thank you for all your positive videos.
@amandalovestoaudit4 жыл бұрын
Woohoo!!! This is excellent news!!! Congratulations!!!
@shahzadhucain23064 жыл бұрын
Highly appreciated.. thank you so much for giving us the detailed informations for cash balances... Need your suggestion that if we are reviewing the bank or cash reconciliations and that reconciliation has material and many transactions (material can come but many transactions should not come in the reconciliation. Like 10, or 15 items ) shall we take one or two samples depending on the materiality to check it back to the source documents and in detail about the cutt off and for professional scepticism.? Appreciate in advance for the guidance.
@amandalovestoaudit4 жыл бұрын
Hi Shahzad - a great question :) If you believe there is a high risk of misstatement around cash because of poor internal controls - it could be worth doing some testing. But remember, when you are testing revenue, expenses etc - you're also testing cash - so be careful not to double up.
@milanjamari71283 жыл бұрын
sorry to be offtopic but does any of you know a tool to log back into an Instagram account?? I was stupid lost my login password. I appreciate any assistance you can give me
@perfekt4u4 жыл бұрын
Yayyyeeee! Thank you so much Dr. Amanda. This is extremely helpful explained in simple english anyone can understand.👏👏👏👏
@amandalovestoaudit4 жыл бұрын
You are very welcome!
@oyagamer18132 жыл бұрын
If I'm not wrong you're talking about the audit procedure relating to cash & cash equivalents
@juliusiha44093 жыл бұрын
I love your videos they are really helpful. Thank you
@amandalovestoaudit3 жыл бұрын
Thank you so much for the kind words Julius ☺️🙏
@bvumayichatikobo31314 жыл бұрын
Well done, DOC, well articulated as always. Here is a small scenario and as as an asider, what happens, assuming on a bad day, in a Bank, my familiar former Industry, there is a cash shortage with one or more of the Tellers/Cashiers when an Audit is actually underway elsewhere in the same organisation, how is that supposed to be handled by the Auditors and probably Management as well. (Is it supposed to be mentioned in the final report? for example.....excetra), Who is appropriate at this point to trace the shortage? And assuming its not even recovered on that particular day?....Lots of love from Zim!!!
@amandalovestoaudit4 жыл бұрын
Hi Bvumayi - this is every bank manager's worst nightmare when a teller is short at the end of the day. I would expect that the bank has internal processes to follow as soon as they identify a short - and it should be a same day investigation. This would include going back through ALL of the day's transactions to try and find out where the teller accidentally gave out more money. The teller, supervisor and bank manager would likely have to write reports about what happened and submit them to head office. This would also be a time where they may bring in internal auditors. As the external auditor - I would need to understand the internal controls / policies & procedures in place to handle a teller being short. Then review a large sample of instances where this had occurred and review all of the supporting documentation that should have been produced at the time. As to whether it is mentioned in the final report - if it was the USA, then yes because of SOX404 reporting - there would have to be disclosure of a material weakness in internal controls. So it depends on whether internal control reporting is required as part of the audit report (I admit, I'm not sure of what the rules are in Zimbabwe)
@bvumayichatikobo31314 жыл бұрын
@@amandalovestoaudit thanks Doc, Amanda for a detailed response. The process followed in Zim borrows a lot from your answer and i am glad we are copying a lot of good Audit traits and skills from you our big Sisters in the Global markets. Good weekend Doc, cheers for now
@mirzahassan553 жыл бұрын
Just brilliant
@amandalovestoaudit3 жыл бұрын
Thank you!
@alanahaskins71884 жыл бұрын
Hello from Canada! I have watched all your videos and have found them SO helpful. Thank you so much Dr. Amanda!
@amandalovestoaudit4 жыл бұрын
You are so welcome Alana ☺️
@arjunSharma-lh1qk3 жыл бұрын
I love Canada, specially weather ☁️.
@hasinarafenoarisoa70634 жыл бұрын
Hello! Thank you so much for video about Auditing the Cash account!
@amandalovestoaudit4 жыл бұрын
You are welcome Hasina 🙏☺️
@poojashah22124 жыл бұрын
Amanda i want to tell you that i was always thinking that there should be videos on audit i.e practical areas of audit . I have been passionate about auditing but didnt get many work opportunity. Your video is so so useful.
@amandalovestoaudit4 жыл бұрын
Hi Pooja - a video about how to get some work experience is on my list. It is very difficult right now with a very competitive job market making it extra difficult for students 😢
@amusaazeez44103 жыл бұрын
@@amandalovestoaudit please I think it more of practical in nature or can we make this in practical in nature. From 🇳🇬 Nigeria
@ryandavealutaya6863 жыл бұрын
Thank you keep it up! Btw, what app are you using for the white board?
@phousenbranharith9922 жыл бұрын
I really love the video, really clear and detail and also very useful for me thanks .
@janebasilio44004 жыл бұрын
Can u make a video about audit procedures for petty cash fund?
@amandalovestoaudit4 жыл бұрын
Hi Jane - I'll add it to my very long list 😊
@gem19433 жыл бұрын
Hy Ma'am I watched this video and it's really helpful thank you. But I have a question I'm going to be doing audit of an organization that deals in foreign currency and have foreign transactions as well are there any special audit procedures that i need to follow?
@chetanasin91503 жыл бұрын
Thanks
@amandalovestoaudit3 жыл бұрын
Any time ☺️
@Darshhhhhh4 жыл бұрын
Wanted to say thank you for your audit lectures. Got my results today, I passed my Audit and assurance paper because of them! Thanks. God bless you! ♥️ From mauritius.
@amandalovestoaudit4 жыл бұрын
Woohoo Darsheenee - this is fantastic news!!!!
@fajarpalopo3 жыл бұрын
In conducting a cash audit, can doubtful cash transactions be taken into account in making an unqualified opinion? even though the final value on the balance sheet after bank reconciliation matches the bank's book? What materiality account is used, is it cash or expense?
@amandalovestoaudit3 жыл бұрын
Hi Pajar - what sort of doubtful transactions are there? If it is deemed not material - then you can still give an unqualified opinion. As for the materiality - I’d use whatever you determined the performance materiality for the cash account.
@vishwamithran88534 жыл бұрын
thank you so much
@amandalovestoaudit4 жыл бұрын
You’re welcome Vishwa 🙏☺️ have a safe and happy holiday season ☺️
@AndreA-qp6in4 жыл бұрын
Thank you very much for your videos! You have the best content, I couldn't find anywhere how to audit specific accounts, even my CPA material doesn't cover this topic very well.
@amandalovestoaudit4 жыл бұрын
Hi Andre - thank you - and good luck in your exams 👍