Design an additional audit procedure for bank overdrafts

Reference no: EM132751075

Question - The directors of Synergy Pty Ltd (Synergy) have provided its external audit firm with an oral representation confirming that the bank overdraft balances included within current liabilities are complete.

Explain why the auditor is concerned particularly with completeness of bank overdraft.

Design an additional audit procedure for bank overdrafts. Explain how this procedure will address the concern identified in a) (i).

Reference no: EM132751075

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