ACCA Audit and Assurance (F8) Practice Exam 2026 – The Complete All-in-One Guide to Achieve Exam Success

Allocating adequate time and resources is essential before conducting a cash count because this process requires careful planning and execution to ensure accuracy and completeness. A cash count is a precise activity that involves verifying the physical cash held by an entity against recorded amounts in the financial statements. Proper planning entails having enough time to organize the count, gather the personnel involved, and prepare the necessary documentation.

When sufficient time is allocated, auditors can conduct the cash count methodically, reducing the risk of mistakes or oversights. Additionally, having the right resources—such as staff trained in cash handling procedures and appropriate counting equipment—ensures that the count is carried out efficiently and effectively.

Considering the context of the other options, ensuring previous records are destroyed may not be necessary and could hinder the ability to verify past transactions. Counting cash in front of bank staff is not a standard practice and may complicate counting instead of simplifying it. Conducting follow-up interviews with management, while potentially useful in other contexts, is not specifically relevant to the immediate process of conducting a cash count. Hence, careful allocation of time and resources stands out as the critical preparatory step needed for a successful cash counting procedure.