Use Table to create a questionnaire checklist that can be used to evaluate controls for each of the basic activities in the expenditure cycle (ordering goods, receiving, approving supplier invoices, and cash disbursements).
a. For each control issue, write a Yes/No question such that a “No” answer represents a control weakness. For example, one question might be “Are supporting documents, such as purchase orders and receiving reports, marked “paid” when a check is issued to the vendor?”
b. For each Yes/No question, write a brief explanation of why a “No” answer represents a control weakness.

  • CreatedDecember 19, 2014
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