Professional Documents
Culture Documents
Control Frequency
Likelihood/Impact
Control Number
Control Owner
Control Type
Risk Number
Process Risk Control Objective Control Activities
Sales Department
Access Control
Weekly
inaccurate customer reasonable -Restriction of
orders assurance that access to master
-Sales to customers recorded sales order data
with poor credit are verified,
-Invalid customer validated, reviewed
orders and approved.
-Proper
authorization of
transactions.
2 Credit R2 -A/R are incorrectly M -Controls provide C2 -Account receivable
Access Control
Weekly
Customer posted reasonable are properly
Service -Customer contract are assurance that accounted and
not clear, outdated or accordance with
do not exist. GAAP.
Collection Department
Control
Physical and Access
Daily
Receipts/ -Incorrectly recorded. reasonable duties (Asset
Collections assurance that cash custody and
receipts are recording)
complete, verified -Reconcile records
and valid. with physical
counts.
Monthly
unts are incorrectly posted. reasonable subsidiary A/R
Receivable -Billing errors assurance that ledgers with
-Failure to bill customer invoice general ledgers
customers. are created by -Separate shipping
authorized and billing.
personnel
completely and
accurately.
-Controls provide
reasonable
assurance that
customer accounts
are maintained by
authorized
personnel
completely and
accurately.
Warehouse Department
Daily
(e.g. merchandise, reasonable those authorized
quantities, address, assurance that personnel that will
etc.) in the shipping picking and packing reconcile the sales
document. the order order to the picking
are created by and packing order.
authorized
personnel
completely and
accurately.
-Controls provide
-Theft of inventory. reasonable -Restriction of
assurance that access to the
customer orders are inventory.
shipped by the
authorized
personnel
completely,
accurately and in a
timely manner.