Please enable JavaScript.

Coggle requires JavaScript to display documents.

Internal control & Auditor (Test of control (Inspect, Inquire,…

- - - - of sufficient importance to merit the attention of TCWG
      - how to judge?
        
        likelihood of MM
        
        susceptibility to loss or fraud
        
        subjectivity and complexity
        
        amounts
        
        volume of activities
        
        importance of controls to FS
        
        cause and frequency of exceptions
        
        interaction of d with other d
- - - - controls over input
        
        completeness
        
        accuracy
        
        authorisation
      - controls over processing
        
        accuracy
      - controls over master files & standing files
- - - - Observe the processing of orders through the sales cycle and
      - inspect sign-offs to evaluate whether proper segregation of duties is operating.
      - why? để ko maunupulate sales recording
    - - Examine application controls for authorisation.
      - For a sample of sales invoices, ensure there is a related sales order form that has been authorised and shipping documentation.
    - - Inspect invoices to confirm whether they are sequentially numbered.
    - - why? xử lí independent để đảm bảo sales returns được record
        
        Review entity's procedures for sending out monthly statements and dealing with customer queries and complaints.
  - - - Review entity's procedures for granting credit to customers.
      - Examine a sample of sales orders for evidence of proper credit approval by the appropriate senior staff member.
    - - Examine application controls for credit limits.
    - - Review all new customer files to ensure satisfactory credit references have been obtained.
  - - - Verify that price lists and terms of trade are properly documented, authorised and communicated.
      - agree a sample of sales invoices to price lists
      - Examine application controls for authorised prices and terms
- - - - Review and test entity's procedures for accounting for numerical sequences of invoices
      - inspect invoices to confirm whether they are sequentially numbered
  - - - For a sample of shipping/despatch documents, ensure each has been matched to a related sales invoice that was subsequently recorded.
    - - Review a sample of reconciliations performed.
      - Reperform a sample of reconciliations.
    - - Inspect the open-order file for unfilled orders
- - - - Review supporting documents for a sample of sales entries to ensure they contain the written details that indicate they were referred to when entered.
- - - - Compare dates on sales invoices with dates of corresponding shipping documentation.
    - - Compare dates on sales invoices with dates recorded in the sales ledger.
- - - - Inspect any documentary evidence of review (such as emails requesting update to COA as a result of review).
    - - Test application controls for proper codes.