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PINNACLE MANUFACTURING PART V Key Controls
1. Segregation of the purchasing,
receiving, and cash disbursements
2. Use of prenumbered voucher
packages, properly accounted for.
3. Use of prenumbered checks, properly
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,
7. Cancellation of documents prior to
signing of the check.
8. Monthly reconciliation of the
accounts payable master file with the
9. Independent reconciliation of the
monthly bank statements. TransactionRelated Audit
Objectives Test of Control Substantive Test of Transaction ...
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- Fall '10