Internal control objectives over transactions consist of

a) validity

b) completeness

c) authorization

d) accuracy

e) classification, accounting and proper period.

Revenue/Receivable/Receipts System Procedure Internal audit objective

satisfied

31.Access to blank sales invoices is restricted. a b c d e

32.All sales invoices are pre-numbered. a b c d e

33.Quantities shipped to customers are compared with sales a b c d e

invoice quantities.

34.The accounts receivable subsidiary ledger is reconciled to the

account receivable control account in the general ledger on a

regular basis. a b c d e

35.Internal audit staff send confirmations to customers on a

regular basis. a b c d e

Purchases/Payable/Payments System Procedures

36.A bank reconciliation is performed monthly by someone who

does not have cash custody or recordkeeping responsibility. a b c d e

37.Supplier invoices are matched to purchase orders and

receiving reports. a b c d e

38.The accounts payable sub-ledger is reconciled

monthly to the accounts payable control account in the general a b c d e

ledger.

Payroll System Processes

39.Payroll lists are periodically compared to personnel files. a b c d e

40.Payroll records are reconciled to tax reports made to the

government. a b c d e