Auditing of Cash Compliance

Cash auditing is a full or partial examination of cash transactions carried out by your company within a specific time frame. You can conduct a cash audit to ensure adequate documentation of cash received or disbursed, as well as to check that the cash balance and deposits are accurate.

Because the nature of cash has various risky elements such as high volume, high liquidity, automation of transactions, debt covenants, high susceptibility to manipulation, and so on, the inherent risk of cash is frequently classified as high risk in cash audits.