The following audit steps are part of the revenue process audit program. Indicate the assertion supported by the evidence gathered in performing each procedure.
a. Select a sample of customers’ accounts.
(1) Vouch debits in the accounts to sales invoices.
(2) Vouch credits in the accounts to cash receipts documentation and approved credit memos.
b. Select a sample of credit memos.
(1) Review for proper approval.
(2) Trace to posting in customers’ accounts.
c. Scan the accounts receivable control account for postings from sources other than the sales and cash receipts journals. Vouch a sample of such entries to supporting documents.

  • CreatedJanuary 22, 2015
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