Security Deposit and Cash Receipt Testing

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#7215 Closed public Multifamily Les Sparks
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I have a general question regarding Tenant Security Deposit and Cash Receipt testing. The audit guide procedures (chapter 3) suggest testing of move-ins and move-outs to test various items regarding Tenant Security Deposits, while it also suggests testing deposits for accuracy (amount, agrees to lease, etc.) for Cash Receipts. It would seem most efficient to test both items during our review of tenant lease files, and I just want to ensure that this would be an appropriate action. I apologize if this has been answered elsewhere, but I was unable to find anything to rely on in my search of the archives.
Kathy Christensen

From Les Sparks:

The Guide makes this a little unclear in asking testing for each area to be done separately. It has been so long now, I am not sure what they were really trying to achieve with those comments. Almost everyone would test those amounts in the one pass through the tenant files. The goal is to make sure the sample sizes are appropriate for each specific test. I would only “touch” the tenant files once.

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