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Accounts Receivable Audit Program 2011-2014

The audit will focus on accounts receivable balances from 2011-2014 to determine if they are fairly presented. The audit procedures will include understanding internal controls, tracing accounts receivable to general ledgers, confirming related party receivables are properly disclosed, matching invoices to delivery receipts to verify correct period recording, and recalculating accounts receivable transactions for accuracy. The audit will be conducted according to the provided Gantt chart timeline.

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Mitzi Wamar
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10 views2 pages

Accounts Receivable Audit Program 2011-2014

The audit will focus on accounts receivable balances from 2011-2014 to determine if they are fairly presented. The audit procedures will include understanding internal controls, tracing accounts receivable to general ledgers, confirming related party receivables are properly disclosed, matching invoices to delivery receipts to verify correct period recording, and recalculating accounts receivable transactions for accuracy. The audit will be conducted according to the provided Gantt chart timeline.

Uploaded by

Mitzi Wamar
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Eco-Edge Home Interiors and Supplies, Inc.

Audit Program for Performance Audit - Accounts Receivable

Audit Scope: This audit will focus on the balances of accounts receivable reflected in the financial statement for each
year from 2011 – 2014.

Audit Objective: To determine that accounts receivable balances for the year 2011 – 2014 are fairly presented.

Audit Objectives Audit Procedures Assertions


1. To gain an understanding of the Inquire to the management
following areas:
 Internal Control
 Nature of the Business
 Background of the
Business
 Business Cycle
 Accounting Principles
and Practices
 Related Party
Transactions
2. To verify that the amount to be Trace Accounts Receivable report to Completeness
recorded are recorded. General Ledger
 Ask for the period-end
accounts receivable aging
report from which to trace
the total to the amount in
the Accounts Receivable
account.
3. To ascertain that accounts Related party receivables Presentation and disclosure
receivable is properly classified  Review if they were
and disclosed properly authorized
4. To confirm that accounts Match invoices to Delivery Trust Measurement
receivable transactions have Receipts
been recorded in the current  Match the invoices dates to
accounting period the Delivery Trust Receipts
to see if sales are recorded
in the correct accounting
period.
5. To determine the mathematical Recalculations Accuracy
correctness of the recorded
accounts receivable
transactions.
Gantt Chart

25 26 27 30 2 3 7 8 9 10 11 15 16 17 18 21 22 23 24 25 28 29 30 31 1 4 5 6
Understand/Inquiry
Sorting of Documents (CHI, DTR, OR)
Inspect Source Documents*
Review notes to FS
Preparation of Audit Report
Finalization of Reports
Initial Presentation

*Recalculation, Inspecting Dates,


Encoding To Excel, Tracing Available
Records to Source Documents

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