Bank Secrecy Act (BSA): Federal regulation requiring financial institutions to assist government agencies in detecting and preventing money laundering, including requirements for cash handling and reporting.
Internal Revenue Code: Federal tax regulations that govern cash handling, reporting, and documentation requirements for tax purposes.
Sarbanes-Oxley Act Section 404: Federal requirement focusing on internal controls assessment and reporting procedures, including cash management controls.
Generally Accepted Auditing Standards (GAAS): Professional standards for conducting audits, including specific procedures for cash counts and verification.
State Banking Regulations: State-specific requirements governing banking operations and cash handling procedures, varying by jurisdiction.
AICPA Standards: Professional guidelines established by the American Institute of CPAs for conducting audits and maintaining professional standards.
Statement on Auditing Standards (SAS): Authoritative standards for audit procedures, including specific guidance on cash counts and verification procedures.
COSO Framework: Internal control framework providing guidance on cash management and control procedures for organizations.
Federal Reserve Requirements: Specific regulations for financial institutions regarding cash reserves, handling, and reporting requirements.
Anti-Money Laundering (AML) Regulations: Federal requirements for preventing, detecting, and reporting potential money laundering activities through cash transactions.
Chain of Custody Requirements: Documentation standards for maintaining and proving the integrity of cash handling and counting procedures during audits.
Cash Transaction Reporting Requirements: Federal and state requirements for reporting large cash transactions, including Form 8300 for transactions over $10,000.
