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Unformatted text preview: Accounts Receivable Audit Program Audit Objective Audit Procedure Valuation Confirmation Review Allowance Account Change in credit policy Noncurrent experience Dun & Bradstreet Correspondence File Validity Confirmation Shipping document Subsequent cash receipts Mechanical Accuracy Aged T/B <-->foot T/B<----->G/L ^ A/R Subsidiary Ledger Completeness Analytical Review Test of Transaction on shipments Foot A/R T/B -> G/L <- A/R Aging Owned Problem: factored, sold or assigned Detection: minutes, bank conf., inquire with client, correspondence file © W.R. Knechel Customer Service: Substantive Testing Cash Cash counts (lockdown, PC) Bank confirmation Bank reconciliation Proof of cash Test of interfund transfers (Kiting) Test for Lapping...
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.
- Fall '08