4180. Review bank reconciliations

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    1. The Dealer Member's auditor must:

      1. obtain bank statements, cancelled cheques, and all other debit and credit memos directly from the Dealer Member’s banks which cover a period ending at least 10 business days after the fiscal year‑end audit date, 

      2. verify the accuracy of the reconciliations between the bank statements and the ledger control accounts as of the fiscal year‑end audit date and on a test basis, using appropriate audit procedures, and

      3. verify that all necessary adjustments identified during the preparation of the reconciliation have been made.

    There is no history log for this rule.

    There is no history log for this rule.