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AUDITING the REVENUE CYCLE - Coggle Diagram
AUDITING the REVENUE CYCLE
REVENUE CYCLE ACTIVITIES AND TECHNOLOGIES
BATCH PROCESSING USING SEQUENTIAL FILE - MANUAL PROCEDURES
Obtaining and Recording the Customers Orders
Approving Credit
Processing Shipping Orders
BATCH PROCESSING USING SEQUENTIAL FILES - AUTOMATED PROCEDURES
Keypunch or Data Entry
Edit Run
Sort Run
AR Update and Billing Run
Sort and Inventory Update Runs
General Ledger Update Run
BATCH CASH RECEIPTS SYSTEM WITH DIRECT ACCESS FILES
Mailroom
Cash Receipts Department
Accounts Receivable Department
Data Processing Department
REAL TIME SALES ORDER ENTRY and CASH RECEIPTS
Order Entry Procedures
Sales Procedures
Warehouse Procedures
Shipping and Billing
CASH RECEIPTS PROCEDURES
FEATURES of REAL TIME PROCESSING
POINT OF SALE SYSTEMS
DAILY PROCEDURES
END of DAY PROCEDURES
REVENUE CYCLE AUDIT OBJECTIVES, CONTROLS,
AND TESTS OF CONTROLS
Relationship between Management Assertions and Revenue Cycle Audit Objectives
Input Controls
Credit Authorization Procedures
Testing Credit Procedures
Data Validation Controls
Testing Validation Controls
Batch Controls
File Update Controls
Transaction Code Controls.
Sequence Check Control.
Testing File Update Controls.
Access Controls
Physical Controls
Segregation of Duties.
Supervision.
Independent Verification.
Output Controls
Accounts Receivable Change Report
Transaction Logs
Log of Automatic Transactions
Unique Transaction Identifiers
Error Listing
Testing Output Controls
Transaction Listings
SUBSTANTIVE TESTS OF REVENUE CYCLE ACCOUNTS
REVENUE CYCLE RISKS and AUDIT CONCERNS
UNDERSTANDING DATA
Customer File
Sales Invoice File and Cash Receipts File
Line Item File
Inventory File
Shipping Log File
File Preparation Procedures
Testing the Accuracy and Completeness Assertions
Review Sales Invoices for Unusual Trends and Exceptions
Review Sales Invoice and Shipping Log
Files for Missing and Duplicate Items
Testing the Existence Assertion
Selecting Accounts to Confirm
confirmation of accounts
receivable.
open-invoice system
Consolidate Invoices.
Join the Files.
Select a Sample of Accounts.
Preparing Confirmation Requests
Evaluating and Controlling Responses
Testing the Valuation/Allocation Assertion
Aging Accounts Receivable
