Wisnu Wardhana
20160420010
Home Assignmenet
Potential Misstatement Potential Control
a Vouchers may not be The computer prepares an
recorded for goods exception report of goods
received. received that are not matched
with a voucher.
b Vouchers may be The computer checks for
prepared for goods not receiving of goods prior to
order or received. processing a voucher.
c Goods may be taken Goods are safeguarded and a
from storage areas. perpetual inventory is kept.
Physical goods are compared to
perpetual records on a regular
basis.
d Goods received may not Receiving must check for
have been ordered. authorized purchase order prior
to receiving goods.
e Vouchers are recorded in The computer compares the
the wrong accounting accounting period on the voucher
period. with the accounting period on the
receiving report.
f Vouchers are recorded in The computer compares the
the wrong amount. quantities on the voucher with
quantities on the receiving report
and the prices on the voucher
with prices on the purchase order.
IPACC
Potential Test of Control
Use CAATs to test the
control by submitting data
that should be rejected by the
control.
Use CAATs to test the
control by submitting data
that should be rejected by the
control.
Observe safeguarding of
inventory.
Inspect evidence of
comparing inventory on hand
with perpetual records.
Observe receiving clerks
performing their duties and
make inquiries of receiving
clerks and others responsible
for the warehouse or
inventory quantities about
the effectiveness of the
Control
Use CAATs to test the
control by submitting data
that should be rejected by the
control.
Use CAATs to test the
control by submitting data
that should be rejected by the
control.
g Vouchers are charged to The computer compares the Use CAATs to test the
the wrong account. account number on the voucher control by submitting data
with the account number on the that should be rejected by the
purchase order. control.