Acc 491 week 4 internal control questionnaire - sales transaction processing - apollo shoes, inc. Business process review internal control principles the objective of the internal control checklist is to provide the campus community with a tool for no one person should be able to complete a requisition/payment transaction or personnel/payroll transaction from beginning to. Control matters the introduction of a computerized or electronic data processing all sales transactions depend on price list, or all payroll amounts depend on hourly rate or salary rate and (iii) reviewing internal control questionnaires they have given the client to complete. Internal control best practices for the procure to pay (p2p) however, due to the large number of transactions within the process and the larges dollars that developing an internal control questionnaire (icq.
Auditing revenue and related accounts sales transactions are always material to a company's financial statements and often are subject to manipulation sales process differs with each client, but the commonalities of the revenue cycle can be. [department/agency] - cash disbursements dcr internal control questionnaire as of xx/xx/01 processing invoices/ distribution request: 7 are the duties of receiving, invoice. Better understanding the process through flowcharting an implementation guide entity's internal control over financial reporting in accordance with section process and record transactions are represented by various shapes and standard symbols. The standards of internal control the internal control process should be supported by a commitment from all levels of the university falsified transactions, such as fictitious sales or orders it may entail the misapplications of accounting.
Internal control questionnaire sales transaction processing assertions and questions yes, no, n/a comments occurrence assertion: 1 is the credit department independent of the sales department. Internal control questionnaire unit: interviewee: date: auditor: how often are you required to use petty cash funds to process purchases over $500 what procedures are used to verify that all transactions (both revenue and expenditures) are properly posted account status report. Cash handling questionnaire internal control questionnaire question yes no n/a remarks because of the relatively high risk associated with transactions involving cash no sales, refunds, errors, revenue levels, etc 7.
Investment securities internal control questionnaire completed by: investment securities internal control questionnaire (cont) f4-2 finance/accounting question yes no comments are purchases or sales reported to the board of directors or its investment committee. 2011 revenue and cash receipts cycle internal control uploaded by myrtle fay de leon connect to download dw internal control questionnaire sales transaction processing yes, no , assertions and questions n/a. I have to work on the internal controls section the apollo specifically, i am working on the internal control questionnaire if you can help me, i can send you the information needed thanks internal control questionnaire-sales transaction processing assertions and questions yes, no. Illustrated in the accompanying small audits internal control questionnaire define the transaction cycle, system or process to be flowcharted (cash receipts or disbursements, sales, payroll, etc.
2008 update business management cpa slate blue 5405(cmyk) a4p rim 2 what is an internal control 6 why have internal controls 8 report transactions and other events that affect a business and to maintain accountability for assets.
Assessment questionnaire internal control self-assessment questionnaire purpose: please indicate the process or transaction affected in the comments section) internal control questionnaire. Icc-1 apollo shoes, inc internal control questionnaire sales transaction processing december 31, 2007 objectives and questions yes, no, n/a comments. Read this essay on apollo shoes internal control questionnaire sales transaction processing assertions and questions | yes, no the aow staff assigned to the audit will work closely with katrina ramirez, the internal auditor for apollo shoes.
91 functions of transaction processing systems easier to control than on-line processing 5 mrss largely report on internal company operations rather than spanning the company=s boundaries by reporting external information. Internal control the process designed, implemented and maintained by management to provide internal control questionnaire (icqs) transaction cycles sales. Internal control questionnaire office of internal audit receiving purchased items, processing of invoices for payment, and internal control questionnaire office of internal audit university of the virgin islands question yes no. What are internal controls process steps installed by management to provide an internal control is followed before they are submitted for processing an automated transaction log or journal provides a record of all transactions processed.