1. Bank Account Setup & Signatories Obtain a complete list of all bank accounts (operating, payroll, savings, restricted, investment). Confirm accounts are in the legal name of the nonprofit. Obtain board minutes approving bank accounts and signatories. Obtain bank signatory mandate; compare with internal records. Verify terminated staff/board members have been removed. 2. Bank Reconciliations Obtain monthly bank reconciliations for the audit period. Check timeliness (within 15–30 days after month-end). Verify reconciliations are reviewed & signed-off by a senior staff/board member. Review reconciling items (outstanding checks, deposits in transit) for reasonableness. Ensure reconciling items are cleared promptly in subsequent months. Reconcile bank reconciliation balances with GL balances. 3. Cash Receipts Trace sample donations from donor receipts/pledge logs to bank deposits. Verify deposits are made intact and daily. Check segregation of duties: separate staff for receipt, deposit, and recording. Review lockbox services/dual custody arrangements if applicable. Test restricted donations for proper coding and segregation. 4. Cash Disbursements Select a sample of disbursements; verify supporting invoices and approvals. Ensure all disbursements are made via check/ACH, not petty cash (except minor). Review check stock security (pre-numbered, locked storage). Verify dual signatures for payments above policy threshold. Test ACH/online payments for approval evidence in Bill.com or bank portal. Confirm no checks made out to “cash.”