Respuesta :
1. Sales invoices are matched with shipping documents by the computer system and an exception report is generated.
Specific control activity: Adequate documents and records
Transaction-related management assertion: Occurrence
Explanation: An exception report is generated to match sales invoice with shipping documents by the computer system to ensure adequate documentation and records
2. Receiving reports are prenumbered and accounted for on a daily basis.
Specific control activity: Adequate documents and records
Transaction-related management assertion: Completeness and Timing
Explanation: On a daily basis reports are recorded to checks completeness and timing
3. Sales invoices are independently verified before being sent to customers.
Specific control activity: Independent check on performance
Transaction-related management assertion: Accuracy
Explanation: Independent check on performance of the sales invoices before being sent to customers to ensure accuracy
4. Payments by check are received in the mail by the receptionist, who lists the checks and restrictively endorses them.
Specific control activity: Separation of duties
Transaction-related management assertion: Completeness
Explanation: Separation of duties to ensure completeness of assigned tasks
5. Labor hours for payroll are reviewed for reasonableness by the computer system.
Specific control activity: Proper authorization of transaction related activities
Transaction-related management assertion: Accuracy/Occurrence
Explanation: Proper authorization of transaction related activities to ensure accurance and occurence of the transactions
6. Checks are signed by the company president, who compares the checks with the underlying supporting documents.
Specific control activity: Independent checks on performance; Separation of duties
Transaction-related management assertion: Accuracy/Occurrence
Explanation: Independent checks on performance with the related documents to ensure accuracy and occurrence of the transactions
7. Unmatched shipping documents are accounted for on a daily basis.
Specific control activity: Physical control over documents and records
Transaction-related management assertion: Timing/ Completeness
Explanation: Physical control over documentation and records to check unmatched shipping documents on a daily routine to ensure completeness and it's timings
8. The computer system verifies that all payroll payments have a valid employee identification number assigned by the human resources department at the time of hiring.
Specific control activity: Adequate separation of duties
Transaction-related management assertion: Occurrence
Explanation: Adequate separation of duties on the payroll payments to ensure occurrence
9. The accounts receivable master file is reconciled to the general ledger on a monthly basis.
Specific control activity: Independent checks on performance
Transaction-related management assertion: Posting & summarization
Explanation: Independent checks on performance of accounts receivable master file reconcillation with general ledger to ensure it's postings and summarization
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