Case 14-34 Key Controls List

Case 14-34 Key Controls List - 14-34 PINNACLE MANUFACTURING...

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Unformatted text preview: 14-34 PINNACLE MANUFACTURING PART V Key Controls 1. Segregation of the purchasing, receiving, and cash disbursements functions. 2. Use of prenumbered voucher packages, properly accounted for. 3. Use of prenumbered checks, properly accounted for. 4. Use of prenumbered receiving reports, properly accounted for. 5. Internal verification of document package before check preparation. 6. Review of supporting documents and signing of checks by an independent, authorized person. 7. Cancellation of documents prior to signing of the check. 8. Monthly reconciliation of the accounts payable master file with the general ledger. 9. Independent reconciliation of the monthly bank statements. TransactionRelated Audit Objectives Test of Control Substantive Test of Transaction ...
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