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aank + betaal en ink + ontvang en salarisse + Lone en Voorraad (Income and…
aank + betaal en ink + ontvang en salarisse + Lone en Voorraad
Income and Receipts
Recalculate debtors
Unusual entries
Authorized with supporting docs
Specific agreements with debtors
Follow tx through to relevant journals and statements
Invoices follow through
Payments with deposit slips
Recalculate discounts
Returns and credit notes with relevant items and docs
Debtors with credit balances
More than 90 day outstanding for possible write off
Balances for receipts after year end
Confirmation with debtors
Cut off
Payment agreements made
Short vs long term items
Liquidations
Provisions for doubtful debts
Data
Supporting docs
Explanations for deviations from previous years
Previous to current material differences
Amounts paid analyze trends
Assumptions
Reasonableness
Approved by appropriate person
Actual vs provision
Confirm outstanding balances
Correspondence for disputes
Prices with confirmed price lists
Consignment stock agreements
Recalculate value QxP
Look for things like date, and amount on invoices
Delivery notes for occurence
remember the risk for income is overstatement, hence occurrence
Discounts agreed upon
Factored otr security and bank confirmations
Payments and acquisition
Riks understatement, completeness
private purchases
Overpaying
Perpetual inventory
Original docs
date of receipt
count sheets that goods are reflected
Invoice for amount
cashbook for the payment
Bank statement
Reconciling items on creditors recon
casting of creditors recon
reperform costing
Experts work
name of client
description of goods
foreign exchange rates
GRN receipt date cutff
Follow trhough
goods returned note
Opening and closing balance month
Salaries and wages
Directors remuneration
Risks
Not correctly classified
not diclosed ito s30(6)
not include firnge benefits
all other amounts deemed to form part of directors remuneration
Calculated incorrectly
not recorded in relevant year
not authorized
Fictitious directors
relevant bodies such as UEF and medical aids
PAYE
reasonability tests for wages during year
Regression analysis