Cash Examination_Session 5.1

Cash count is an audit technique whereby an authorized examiner of cash and accounts inquires into the correctness and physical existence of the balance of cash in the custody of an AO, the validity of his/her cash transactions, the reliability of the cash records and his/her conformance with prescribed procedures.

• True

• False

It prescribes the use of the Revised Cash Examination Manual.

• COA Circular No. 97-002

• COA Circular No. 2012-001

• COA Memorandum No. 2013-004

• COA Circular No. 2015-011

The authority to conduct regular cash examination shall be inherent to the audit team having jurisdiction over the audited agencies. The supervising auditor shall be responsible in identifying the audit team member(s) who will conduct or assist him in conducting the cash examination.

• True

• False

This person is immediately and primarily responsible for all government funds and property pertaining to his agency. Persons entrusted with the possession or custody of the funds or property under the agency head shall be immediately responsible to him, without prejudice to the liability of either party to the government.

• Local/Agency Treasurer

• Acccountable Officer

• Agency Chief Accountant

• Head of the Agency

Transfer of government funds from one officer to another shall, except as allowed by law or regulation, be made only upon prior direction or authorization of the Commission or its representative.

• True

• False

The conduct of cash examination is required under the following circumstances, except:

• Before the AO retires or is separated from the service.

• Before he is transferred to another station or office.

• When he goes on a 2-day vacation leave.

• When loss of government fund by an AO is reported.

Cash Examination Report shall be submitted to the Supervising Auditor (SA) or Cluster/Regional Director within twenty (20) days from the date of cash count.

• True

• False

The Auditor shall ascertain that private checks are made payable to the agency or the official title or designation of the agency head. Disallow accommodated private checks, including post-dated checks, stale checks/money orders, chits and promissory notes.

• True

• False

The constructive distraint contemplated under Section 47 of Presidential Decree No. 1445, may be effected under the following circumstances, except:

• A prima facie case of malversation of public funds or property is found against him.

• The interest of the government has to be safeguarded.

• A prima facie case of malversation of public funds or property is found against him.

• An overage in the accounts of an AO is discovered in audit.

When an officer accountable for government funds or property absconds with them, dies, or becomes incapacitated in the performance of his duties, the respective Audit Group of the Agency shall designate a custodian to take charge of the funds or property until a successor shall have been appointed and qualified.

• True

• False