Task: How do you know what would Transaction Audit Objectives be for the following key Controls
1. Independent reconciliation of the monthly bank statements
2. Use of prenumbered checks, properly accounted for
3. Use of prenumbered receiving reports, properly accounted for.
4. Internal verification of document package before check preparation.
5. Review of supporting documents and signing of checks by an independent authorized person.
6. Cancellation of documents prior to signing of the check.
7. Monthly reconciliation of the accounts payable master file with the general ledger.