Does your business accept cashless payments, such as credit cards, PayPal, Venmo or even Bitcoin? If so, your auditors may need to modify their procedures to address your company’s electronic sales records. This requires four specific audit procedures: 1) identifying accepted payment methods, 2) evaluating roles and responsibilities, 3) testing the reconciliation process, and 4) analyzing trends for anomalies. Before we start fieldwork, let’s discuss the types of cashless payments you currently accept or plan to take in the future.