Cash Management Audit Checklist ( FINANCE )

This checklist is designed to ensure comprehensive auditing of cash management processes within the organization. It focuses on verifying cash handling procedures, internal controls, and compliance with financial policies to maintain accuracy and prevent fraud.

• Review Cash Handling Procedures

  Examine the documented cash handling procedures to ensure they are up to date and reflect the current practices.

• Verify Access Controls

  Check that access to cash and cash-handling areas is restricted and monitored to authorized personnel only.

• Assess Cash Reconciliation Process

  Evaluate the process for reconciling cash accounts, ensuring that discrepancies are identified and resolved promptly.

• Inspect Daily Cash Logs

  Review daily cash logs for accuracy and completeness, ensuring all cash transactions are properly recorded.

• Conduct Surprise Cash Counts

  Perform unannounced cash counts to confirm that physical cash on hand matches the recorded amounts.

• Evaluate Electronic Cash Management Systems

  Assess the effectiveness and security of any electronic cash management systems in use, ensuring they are properly integrated.

• Review Compliance with Financial Policies

  Ensure all cash management activities comply with the organization's financial policies and regulatory requirements.

• Collect Feedback from Staff

  Gather input from staff involved in cash management to identify areas for improvement and potential risks.

• Document Findings and Recommendations

  Compile all findings from the audit and provide actionable recommendations for improving cash management processes.