Which of the following statements regarding independent bank reconciliations is true?

a. The auditor’s performance of an independent reconciliation of

the client’s bank accounts provides evidence as to the accuracy of the year-end cash balance.

b. The process reconciles the balance per the bank statements with

the balance per the books.

c. An independent test of the bank reconciliation is quite effective in detecting major errors, such as those that might be covered up by omitting or underfooting outstanding checks.

d. When testing the client’s bank reconciliation, the auditor should independently verify all material items, such as the balance per the bank statement, deposits in transit, outstanding checks, and other adjustments.

e. All of the above are true.