From: "Darlene Wardlaw"
Subject: Understanding the Revenue Cycle
I’ve attached a Sales internal control questionnaire from another engagement that I think you can use for Apollo. You may want to talk to Karina Ramirez to get answers to the questions.
1. Complete the ICQ for Apollo. For “yes” answers, add a comment stating which department and clerk performs the function. For “no” answers, describe the possible “errors” or “frauds” that could occur because of the control weakness. 2. I’ve started a flowchart and listed some strengths and weaknesses, but had to leave before I could finish it. See if you need to add any more strengths and/or weaknesses that you find from …show more content…
Is there an overall check on arithmetic accuracy of | | |
|period sales data by a statistical or product-line | | |
|analysis? | | |
| 14. Are periodic sales data reported directly to general| | |
|ledger accounting independent of accounts receivable | | |
|accounting? | | |
|Classification objective: |
| 15. Does the accounting manual contain instructions for | | |
|classifying sales? |