It audit manual volume iii kd reference 67 it audit

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: stem determine the appropriate price for a particular customer/consuming agency order using the pricing models and formulas defined in the Pricing Method Definition activity? 76. Does the system develop the information necessary to prepare an initial invoice for a customer/consuming agency that provides adequate support for the prices charged? 77. Does the system prepare either the initial invoice itself or pass the information required to the core financial system for it to prepare the invoice? IT Audit Manual Volume III KD Reference 67 IT Audit Manual No 78. Item Does the system provide the core financial system with the data necessary to establish the receivable and support subsequent administration of the receivables management and collection process? 79. Does the system decrease the inventory of finished goods account and increase the cost of goods sold account by the amount at which the inventory are valued? 80. Does the system record revenue and the appropriate offsetting account (e.g., cash, receivables, or advances) in the amount for which the inventory items are sold/issued (price) in case of inventory of finished goods? 81. Does the system record the value of items issued from storage or shipped to customer/consuming agency for which title does not pass to the customer/consuming agency until a subsequent event occurs? 82. Does the system decrease the quantity of the inventory item on hand by the number of items sent to the disposal organization? 83. Does the system record confirmation of receipt of the items by the disposal organization? 84. Does the system transfer balances between financial categories, for example, from "inventory held for sale/issue" to "excess, obsolete, and unserviceable inventory?" 85. Does the system account for the proceeds resulting from disposition of inventory items as scrap? 86. Does the system provide the following types of management information? o o o o o o E. KD Reference Stock availability? Customer/consuming agency order? Inventory turnove...
View Full Document

Ask a homework question - tutors are online