You are developing the policies and procedures in relation to credit sales. What processes would you include in relation to preparing invoices, preparing journal entries for these invoices, authorising these journal entries and filing invoices for auditing purposes

Q: CPAs may audit around or through computers in the audit of the financial statements of clients who…

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: Explain, on what criteria or by what internal controls in place, where Billing could be responsible…

A: It is the process followed by the organization in order to ensure the reliability of the financial…

Q: What is the reason for ensuring that every copy of a vendor's invoice has a receiving report? O To…

A: Audit is the process of checking and examining books of account of the business, so that it can be…

Q: Why should the function of requisitioning the purchase of goods be segregated from the function of…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: When aninventory itemfalls to the recorder point, a purchase requisition is automatically generated…

A: Develop system flow chart of expenditure cycle: The existing system performs the functions in…