Segregation of Duties

Size: px
Start display at page:

Download "Segregation of Duties"

Transcription

1 Segregation of Duties The Basics of Accounting Controls

2 Segregation of Duties The Basics of Accounting Controls 2014 SP Plus Corporation. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the express written permission of SP Plus Corporation. These materials are intended only to provide information to the attendees of SP Plus Corporation training programs. SP Plus Corporation, its employees, trustees and agents, disclaim all responsibility and liability whatsoever for any use or non-use of the information contained in these materials and all obligations and liabilities whatsoever, whether for damages or otherwise, including without limitation, for consequential damages, arising, or alleged to arise, in any manner, out of or in connection with the use, or inability to use, these materials or any information contained herein.

3 Table of Contents MODULE 1: INTRODUCTION... 1 SP PLUS CORPORATE MISSION... 1 ROLE, ACCOUNTABILITY AND PROFESSIONAL EXPECTATIONS... 1 WE NEED YOUR HELP!... 1 MODULE 2: SEGREGATION OF DUTIES... 3 OBJECTIVES FOR THIS COURSE:... 3 BENEFITS OF SEGREGATION OF DUTIES... 4 RESPONSIBILITIES WITHIN SEGREGATION OF DUTIES... 4 Incompatible Duties... 4 MODULE 3: IMPLEMENTING SEGREGATION OF DUTIES... 6 MITIGATING AND COMPENSATING CONTROLS... 7 DEFINITION OF JOB FUNCTIONS... 7 Facility Manager Responsibilities... 8 MODULE 4: COMPLETING APPLICATION WORKSHEETS... 9 Cashier Receipts Application Worksheet... 9 Monthly Parker Application Worksheet GLOSSARY... 15

4 Module 1: Introduction SP Plus Corporate Mission The mission of our company is: "To achieve our clients' goals through excellence, innovation and integrity." Role, Accountability and Professional Expectations It is the responsibility and obligation of each level of management, to maintain the integrity of the Company and the Client. One of the main responsibilities of managing day to day facility operations is to maximize revenue control, while minimizing the Company s liabilities, through adherence to instituted policies and procedures. When policies and procedures are not followed, Client relations and the Company s success are at risk. Through your training process, you will learn about these policies and procedures, and how they are used to maximize revenue control and minimize liabilities. You will also learn about situations that require written documentation in the place of a policy or procedure; however, it is not our preferred means of doing business. Mitigating controls can be used as a secondary solution for instances when an audit requirement cannot be met at a location. It is your obligation as a Facility Manager to maintain the highest standards of revenue control, in order to ensure the continued success of the Company. We Need Your Help! In order to continually improve this program and the documentation we depend on you and your opinion on what should be added or deleted and what sections need more or less detail. If you have any thoughts on how to make this document better, please the training department at Training@standardparking.com or take notes and give them to the Trainer or Fax to

5 SP Plus U Material or Course Available Term Important Note Policy On SPin 2

6 Module 2: Segregation of Duties Objectives for this Course: At the end of this module, the participant will be able to: Describe the Sarbanes-Oxley Act (SOX) Define Segregation of Duties (SOD) Describe the benefits of Segregation of Duties Demonstrate how to implement Segregation of Duties Define and discuss Mitigating and Compensating Controls Define the job functions of Segregation of Duties Demonstrate how to complete the SOD Worksheets Achieve accurate and effective Segregation of Duties at your location Business Metric: To achieve an ideal score on these audit questions: II.B.07: Is there proper segregation of duties between processing transactions, recording transactions, depositing cash receipts, recording revenue and reconciling bank accounts? II.C.17: Is there proper segregation of duties between collecting applications, collecting cash receipts, access card maintenance, data entry of customer information, invoicing, reconciling payments received and customer maintenance? II.D.18: Is there proper Segregation of Duties for Pay Station locations? II.H.6: Is there proper Segregation of Duties for this Special Event location? After the demise of the Enron Corporation, the Sarbanes-Oxley Act or SOX was enacted as a United States Federal law. The law was created to ensure that public companies were reporting revenue accurately, and the revenue that was reported was being deposited in the bank. In order to comply with the requirements set forth by the Sarbanes-Oxley Act, the Company needed to initiate accounting controls known as Segregation of Duties. Segregation of Duties (SOD) is a basic, key internal revenue control process. It is used to ensure that errors or irregularities such as fraud are prevented or detected on a timely basis. Segregation of Duties applies to all locations. So it is important that everyone understand and know how SOD works, and that guidelines are established and followed by everyone. 3

7 Segregation of Duties is not the responsibility of one person; it is the responsibility of everyone. Benefits of Segregation of Duties At the most basic level, Segregation of Duties means that no single individual should have control over two or more phases of a revenue control process. Managers should properly staff their locations and assign responsibilities to ensure a crosscheck of duties. Managers should also emphasize the importance of audit expectations in regards to SOD. Segregation of Duties provides two benefits: 1. Deliberate fraud is more difficult because it requires conspiracy of two or more persons. 2. It is much more likely that innocent errors will be found. On the opposing side of SOD there are some key risk factors in the Operations Revenue process that lead to revenue losses or theft, including: Fraudulent activity in reporting all types of revenues. Incomplete revenue postings. Mathematical errors. Responsibilities within Segregation of Duties There are four general categories of responsibilities that are executed when Segregation of Duties is properly implemented: Authorization - The process of giving permission to access systems such as the AS400 system for Standard Parking locations, and the CARS system for Central Parking locations. Cash Handling - The act of collecting payments and making cash deposits. Record keeping - Performance of daily tasks such as paperwork audits, and inputting data into the AS400 Revenue system for Standard Parking locations, and into the Telerev and DCR Reporting system for Central Parking locations. Reconciliation - Verification and reconciliation should be added to the AS400 for Standard Parking locations, and to the CARS system for Central Parking locations. Ideally different employees should perform each of these four major responsibilities; no one person should have control of two or more of these responsibilities. There is greater need for proper Segregation of Duties when dealing negotiable assets such as cash, checks and inventory. Incompatible Duties When a single person has control over two or more of the SOD responsibilities, they can carry out and conceal errors and/or irregularities in day-to-day activities. This type of situation is known as Incompatible Duties, and puts the Company at risk for fraudulent activity, revenue errors, or incomplete revenue posting. Some examples of Incompatible Duties are listed below: 4

8 1. Making the daily cash deposits (Cash Handling), completing the daily revenue reports (Record Keeping), and auditing the tickets and daily revenue reports (Reconciliation). 2. Receiving checks (Cash Handling), and approving write-offs or adjustments (Authorization). 3. Depositing cash (Cash Handling) and reconciling bank statements (Cash Handling). 4. Approving time cards (Authorization) and having custody of pay checks (Cash Handling). 5

9 Module 3: Implementing Segregation of Duties There are three key concepts when determining if Segregation of Duties exists in a facility. 1. If someone has access to cash, that person cannot input into the AS400 Accounts Receivable System for Standard Parking locations, and into the CARS system for Central Parking locations. Exception: Although it is preferable and recommended to have segregation of duties where the individual that records revenue does not have physical access (i.e. cashiering, counting the funds, or making the bank deposit), it is not always feasible. It is considered acceptable if a Facility Manager has access to cash and enters revenue into the respective Standard and Central systems, as long as an Independent Reviewer audits 7 consecutive days once per month, reviewing a different 7 days each month. For Standard Parking locations, the Audit Bookkeeper/Revenue Auditor needs to verify that the AS400 Daily Sales Input matches the AS400 Revenue Summary Report and deposit after the revenue for the month has closed. This is to ensure that the Facility Manager (or person making the entry) doesn t manipulate the AS400 Daily Sales Input amount and change the data in AS400 to commit fraud. This is a bare minimum level of Segregation of Duties where possible we would want to have a higher level. For Central Parking locations a comparison of validated deposit slips (or courier pick-up logs), revenue equipment report totals, and the revenues reported on the DCR (or Telerev) system should be completed and documentation maintained on file for possible future reviews by Audit. (For Sales Audit locations, the independent review is not as critical, but emphasis should be placed on a documented review of exception type tickets (price changes, replacement tickets, voids, etc.) that are subject to being manipulated and not detected on the daily automated Sales Audit pull of revenues.) 2. The person performing the audit cannot report to the person they are auditing. An example is: A Facility Manager does a review of a Ticket to Tape Audit, to ensure the revenue is reported 6

10 accurately. The Audit Bookkeeper then reviews the same Ticket to Tape Audit paperwork and verifies the cash receipts were deposited in the bank. Because the Audit Bookkeeper is verifying the cash receipts to the completed paperwork, the Audit Bookkeeper cannot report to the Facility Manager. 3. For monthly Segregation of Duties, all source documents for Key Cards audits must be kept in on file. Source documents include, Active Item Listing from the AS400 Accounts Receivable System, the active Key Card listing from the location s access card system or CARS system, and completed Key Card Reconciliation paperwork. The Key Card Reconciliation paperwork should include variances identified during the Key Card audit and the resolutions for those variances. A copy of all documents used in the reconciliation must be kept as backup for the completed audit. It is ok to keep electronic copies of these source documents. Mitigating and Compensating Controls In those instances where duties cannot be fully segregated, Mitigating or Compensating Controls must be established. Mitigating or Compensating Controls are additional procedures designed to reduce the risk of errors or irregularities. For instance, if the Manager makes the daily cash deposits and performs an audit of the daily revenue reports. A Supervisor or Audit Bookkeeper could perform and document a more detailed review of the Manager s audit. Another good mitigating or compensating control is to have an Independent Reviewer of the revenue paperwork at the facility. This provides additional control over the assignment of incompatible functions. Segregation of Duties is more difficult to achieve in a centralized environment where only one individual has control over all the location s duties. In a case such as this Mitigating and Compensating Controls should be implemented, which could include passwords, inquiry only access, logs, dual authorization requirements, and documented reviews of input/output. Definition of Job Functions In order to fully understand Segregation of Duties for transient revenue control, the various job functions involved must be defined. Cashier - The person who operates the Cashier booth for a shift. Manager - The person who manages the Cashiers. Audit Bookkeeper - The person independent of the Manager (does not report the Manager) who is assigned to perform certain control functions. By definition this person has no access to cash receipts. The Segregation of Duties for monthly revenue control job functions are a bit different and also need to be defined. Cashier/Receptionist The person who operates the cashier booth for a shift, or works in the facility office doing various functions. Some of these functions could include general bookkeeping, customer service and receptionist. Manager the person who manages the facility and is responsible for activating/deactivating Key Cards in the facility s Key Card system. A/R Clerk the person independent of the Facility Manager (does not report to the Facility Manager), and who has access to make changes, additions or deletions in the Parker AR System for Standard Parking locations, and the CARS system for Central Parking locations. They may also be able to post payments. Senior Manager The person who supervises the Facility Manager. 7

11 Segregation of Duties is determined by job function not job title. For example: If a Manager is performing the functions of a Cashier, the job position would be that of a Cashier on the SOD application forms. Although that person is technically a Manager, he/she would be listed as the Cashier since that is the actual function that is being performed.. Facility Manager Responsibilities As a Facility Manager, these are your key responsibilities: Review and follow the policies and processes that are identified in the Revenue Control process in the Revenue Reporting and Management section of the Facility Manager Job Plan reference guide, as well questions specific to Segregation of Duties in the Standard Operating Procedures (SOP) document. The SOP document can be found in Google Drive or on SPin. Document and sign-off for each control that is performed. Monitor controls on a regular basis to ensure they are operating effectively and consistently. If as a Manager you input revenue into the AS400 for Standard Parking locations, and into the CARS system for Central Parking locations. Complete the SOD Worksheets to maintain a record of who is doing what at the facility. This information will be needed to answer question III. J. Misc. 2 if you are audited or questions related to SOD on the Control Self Assessment (CSA). If a policy or procedure cannot be followed at a location, ask a member of the Internal Audit Department for permission to implement a mitigating control. 8

12 Module 4: Completing Application Worksheets Cashier Receipts Application Worksheet This worksheet should be completed if a location collects cash receipts (transient revenue), and will help display the functions and duties of those responsible for handling the cash. This ensures that one person does not control or perform all functions within a process. There must be segregation of responsibilities between processing transactions, recording transactions, depositing cash receipts, recording revenue and reconciling bank accounts. An independent review must be performed if any of the positions on the worksheet overlap. An independent review is when the revenue reporting documents (shift tape, cashier reports, deposit slips, etc.) are reviewed and confirmed by another employee. This employee should not have access to the cash, and does not have a direct reporting or personal relationship to the employee they are reviewing. To complete the worksheet: 1. Review the list of functions in the far left column. 2. Write the name of the position (not the person) whose duty it is to perform that function in the Duties section. 3. If any of the positions overlap into other columns, then there should be a Mitigating Control in place. The sample SOD worksheet shown below has been completed with positions that do NOT meet the Segregation of Duties guidelines. In this example the manager and the cashier are performing functions that should be completed by a separate person. 9

13 The sample SOD worksheet shown below has been properly completed with positions that meet the Segregation of Duties guidelines. This includes the premise that the Manager does not perform the function of the Cashier, and the Bookkeeper has no access to money and does not report to the Manager. If you cannot complete your worksheet utilizing those guidelines, there must be an independent review which would satisfy the guidelines of having a Mitigating Control in place. 10

14 Monthly Parker Application Worksheet This worksheet should be completed if you collect monthly parker receipts (monthly revenue) at your location. This ensures that one person does not control or perform all functions within a process. There must be Segregation of Duties between the person who collects parker applications, collects monthly parker or validation payments and maintains the card access system; from the person who maintains the AS400 Monthly Parker A/R System for Standard Parking locations, and into the CARS system for Central Parking locations (including adding parkers, deleting parkers, changing customer information, maintaining parker billing rates, posting payments and applying adjustments to parker account balances). To complete the worksheet: 1. Review the list of functions in the far left column. 2. Write the name of the position (not the person) whose duty it is to perform that function in the Duties section. 3. Make sure that positions do not overlap into other columns. The sample SOD worksheet shown below has been completed with positions that do NOT meet the Segregation of Duties guidelines. In this example the manager and the cashier are performing functions that should be completed by a separate person. The sample SOD worksheet shown below has been properly completed with positions that meet the Segregation of Duties guidelines. This includes the premise that the Manager does not perform the 11

15 function of the Cashier, the Bookkeeper has no access to money and the Bookkeeper does not report to the Manager. As per the Standard Operating Procedures document, even if your location is operating as per the Segregation of Duties guidelines, the Senior Manager for the location must conduct a surprise Key Card Reconciliation twice a year, or every six months. The surprise Key Card Reconciliation will satisfy the requirement of an independent review of the monthly revenue process. The active key cards should be reconciled to the current billing records. This review must be random, and the actual date and time should be a surprise to the Manager. The Senior Manager cannot request the files by phone or in advance of the surprise visit. The Segregation of Duties (SOD) Worksheet files can be found in Google Drive or on SPin. 12

16 Examples of scenarios for transient parking revenues: If the Cashier.... Then the Manager.... Then the Audit Bookkeeper.... Turns in cash deposit to Manager, to count and deposit in bank Turns in cash deposit in a sealed bag for Manager or armored car to deliver to the bank Makes a cash deposit directly to the bank Also serves as the Manager Also serves as the Manager and inputs revenue into the AS Cannot perform the daily paperwork audit, or input data into the AS400 Revenue and the Telerev and DCR Reporting Systems. Can perform the daily paperwork audit and input revenue into the AS400 Revenue and Telerev and DCR Reporting Systems. Can perform the daily paperwork audit or input data into the AS400 Revenue and Telerev and DCR Reporting Systems. Cannot perform the daily paperwork audit or input data into the AS400 Revenue and Telerev and DCR Reporting Systems. Can perform the daily paperwork audit or input data into the AS400 Revenue and Telerev and DCR Reporting Systems. Must perform the daily paperwork audit. Must verify that the tear-off strips from the cashier deposit bags are accounted for and can perform the daily paperwork audit. Can perform the daily paperwork audit. Must perform the daily paperwork audit. Must verify that the AS400 and Telerev and DCR reports match the deposit after the revenue for the month has closed. 13

17 Examples of scenarios for monthly parking revenues: If.... Then the Manager.... Then the Audit Bookkeeper... The Cashier, Receptionist, Supervisor and/or Assistant Manager collects monthly parking payments and provides the payments to the Manager for counting and deposit The Cashier, Receptionist, Supervisor and/or Assistant Manager collects monthly parking payments and provides the payments to the Manager in a sealed bag for deposit The Cashier, Receptionist, Supervisor and/or Assistant Manager collects monthly parking payments and deposits payments directly to the bank The Manager collects the payments The monthly parker payments are made via the Lockbox, EFT or AS400 credit card system Cannot have access to perform additions, deletions or changes to the Parker A/R billing and CARS systems. Manager is able to activate/ deactivate keycards in the keycard system. Can post payments and make additions, deletions and changes in the Parker A/R and CARS systems. In addition, the Manager is able to activate/ deactivate keycards in the keycard system. Audit Bookkeeper must verify the tear-off strips from the cashier deposit bags are accounted for. Can post payments and make additions, deletions and changes in the Parker A/R and CARS systems. In addition, the Manager is able to activate/ deactivate keycards in the keycard system. Cannot have access to perform additions, deletions or changes to the Parker A/R and CARS systems. Manager is able to activate/deactivate keycards in the keycard system. Can make additions, deletions and changes in the Parker A/R and CARS systems. Manager is able to activate/deactivate keycards in the keycard system. Can post payments and make additions, deletions and changes in the Parker A/R and CARS systems. Under no circumstance, can the A/R clerk collect parking payments. Can post payments and make additions, deletions and changes in the Parker A/R and CARS systems. Under no circumstance can the A/R clerk collect parking payments. Can post payments and make additions, deletions and changes in the Parker A/R and CARS systems. Under no circumstance can the A/R clerk collect parking payments. Can perform the daily paperwork audit. Can post payments and make additions, deletions and changes in the Parker A/R and CARS systems. Under no circumstance can the A/R clerk collect parking payments. 14

18 Glossary A/R Clerk The person independent of the Facility Manager (does not report to the Facility Manager), and who has access to make changes, additions or deletions in the Parker AR System. They may also be able to post payments. Audit Bookkeeper The person independent of the Manager (does not report the Manager) who is assigned to perform certain control functions. By definition this person has no access to cash receipts. Authorization The process of giving permission to access systems such as the AS400, activating/deactivating Key Cards in the Key Card system, and making additions, deletions, or changes to the A/R billing system. Cashier The person who operates the Cashier booth for a shift. Cash Handling The act of collecting payments and making cash deposits. Incompatible Duties When a single person has control over two or more of the SOD responsibilities, they can carry out and conceal errors and/or irregularities in day-to-day activities. Manager Mitigating or Compensating Controls Receptionist Reconciliation The person who manages the Cashiers Additional procedures designed to reduce the risk of errors or irregularities. The person who works in the facility office doing various functions. Some of these functions could include general bookkeeping or customer service. Verification and reconciliation should be added to the AS400 for Standard Parking locations, and to the CARS system for Central Parking locations. Record Keeping Performance of daily tasks such as paperwork audits and inputting data into the AS400 Revenue system for Standard parking locations, and into the Telerev and DCR Reporting system for Central Parking locations. 15

19 Sarbanes-Oxley Act A law that was created to ensure that public companies were reporting revenue accurately and the revenue that was reported was being deposited in the bank. Senior Manager The person who manages the Facility Manager. Segregation of Duties Is a basic, key internal revenue control. It is used to ensure that errors or irregularities are prevented or detected on a timely basis. It is used at all locations and is the responsibility of all employees. 16

C. B. Smith Park Cash Handling Process

C. B. Smith Park Cash Handling Process Exhibit 1 C. B. Smith Park Cash Handling Process May 15, 2014 Report No. 14 08 Office of County Auditor Evan A. Lukic, CPA County Auditor Table of Contents EXECUTIVE SUMMARY... 1 METHODOLOGY... 1 BACKGROUND...

More information

HFTP Hospitality Financial and Technology Professionals

HFTP Hospitality Financial and Technology Professionals About our Sample Accounting Jobs Descriptions for Clubs: The HFTP Americas Research Center, with guidance from members of the HFTP Club Advisory Council, has developed example job descriptions for accounting

More information

Whether you take in a lot of money. or you collect pennies

Whether you take in a lot of money. or you collect pennies Whether you take in a lot of money or you collect pennies ..it is important to maintain good cash handling procedures: Segregation of Duties Security Reconciliation Management Review Documentation It s

More information

Eric Anderson, City Manager. Scottie Nix, Internal Auditor

Eric Anderson, City Manager. Scottie Nix, Internal Auditor City of Tacoma Internal Audit Office Memorandum TO: FROM: SUBJECT: Eric Anderson, City Manager Scottie Nix, Internal Auditor Improving SAP Roles Assignment and Monitoring at the City of Tacoma Follow Up

More information

CORP Appendix A CORPORATE POLICY. Attachments: Related Documents/Legislation: Revenue Administrative Policy

CORP Appendix A CORPORATE POLICY. Attachments: Related Documents/Legislation: Revenue Administrative Policy CORP2014-085 Appendix A CORPORATE POLICY Policy Title: Cash Handling Policy Policy Category: Financial Control Policy Policy No.: FC-016 Department: Corporate Services Approval Date: Revision Date: Author:

More information

Segregation of Duties

Segregation of Duties Segregation of Duties This is a case assignment that develops both the theoretical base for segregation of duties and then illustrates how this is accomplished in a highly integrated computerized enterprise

More information

Understanding Internal Controls Office of Internal Audit

Understanding Internal Controls Office of Internal Audit Understanding Internal Controls Office of Internal Audit July 2015 Objectives for this manual Provide guidance to help management understand their responsibility to ensure that internal controls are established,

More information

Diocese of Covington Policies & Procedures Manual Section: Compliance Accounting Policy: Internal Control & Segregation of Duties

Diocese of Covington Policies & Procedures Manual Section: Compliance Accounting Policy: Internal Control & Segregation of Duties Internal Control refers to the policies and procedures established to provide reasonable assurance that parish assets are safeguarded, that accountability is achieved, and that errors in financial records

More information

OVERVIEW 4/19/10. Internal Controls and the Audit Process May 4, 2010 OVERVIEW. Definition and historical perspective of internal auditing

OVERVIEW 4/19/10. Internal Controls and the Audit Process May 4, 2010 OVERVIEW. Definition and historical perspective of internal auditing and the Audit Process May 4, 2010 Presented by: Deborah A. Stevens CPA Wichita County Auditor 1 OVERVIEW Definition and historical perspective of internal auditing Role and responsibilities of the internal

More information

OUTSMART FRAUD. Strategic Internal Controls to Prevent Business Fraud

OUTSMART FRAUD. Strategic Internal Controls to Prevent Business Fraud OUTSMART FRAUD Strategic Internal Controls to Prevent Business Fraud GrowthForce LLC 800 Rockmead Drive Suite 200 Phone 281.358.2007 Fax 281.358.4120 OUTSMART BUSINESS FRAUD Using statistical data from

More information

Financial Statement Close Process

Financial Statement Close Process Financial Statement Close Process Process Control Objective Risk Control Considerations Segregation of Duties Accounting functions are properly segregated. Unauthorized and inaccurate transactions may

More information

Fraud Risk Management

Fraud Risk Management Fraud Risk Management Specific Anti-Fraud Controls (Process or Transaction Level) 2017 Association of Certified Fraud Examiners, Inc. Discussion Questions 1. Does your organization have adequate staffing

More information

Internal Control Questionnaire

Internal Control Questionnaire Internal Control Questionnaire CASH RECEIPTS/SALE QUESTIONS: 1. Is there a designated cash receipt custodian? 2. Are all receipts recorded on pre-numbered cash receipts tickets, including those received

More information

Cash Disbursement Procedure

Cash Disbursement Procedure ACCOUNTING PROCEDURES Georgia Recreation and Park Association March 2015 Cash Disbursement Procedure The following Cash Disbursement Procedure is the responsibility of the GRPA Office Manager under the

More information

CONTROLLER S OFFICE. Cash Handling Procedures Guide. Prepared by: Bryan Dadey Assistant Controller

CONTROLLER S OFFICE. Cash Handling Procedures Guide. Prepared by: Bryan Dadey Assistant Controller CONTROLLER S OFFICE Cash Handling Procedures Guide Prepared by: Bryan Dadey Assistant Controller University of Toledo Controller s Office Cash Handling Procedures Guide TABLE OF CONTENTS Documentation....2

More information

RISK CONTROL SOLUTIONS

RISK CONTROL SOLUTIONS RISK CONTROL SOLUTIONS A Service of the Michigan Municipal League Liability and Property Pool and the Michigan Municipal League Workers Compensation Fund HANDLING REVENUE Every municipality handles some

More information

Auditing Standards and Practices Council

Auditing Standards and Practices Council Auditing Standards and Practices Council PHILIPPINE STANDARD ON AUDITING 330 THE AUDITOR S PROCEDURES IN RESPONSE TO ASSESSED RISKS PHILIPPINE STANDARD ON AUDITING 330 THE AUDITOR S PROCEDURES IN RESPONSE

More information

BOM/BSD 2/November 1994 BANK OF MAURITIUS. Guideline on Maintenance of Accounting and other Records and Internal Control Systems

BOM/BSD 2/November 1994 BANK OF MAURITIUS. Guideline on Maintenance of Accounting and other Records and Internal Control Systems BOM/BSD 2/November 1994 BANK OF MAURITIUS Guideline on Maintenance of Accounting and other Records and Internal Control Systems November 1994 Revised November 2013 Revised December 2017 TABLE OF CONTENTS

More information

Evaluating Internal Controls

Evaluating Internal Controls A SSURANCE AND A DVISORY BUSINESS S ERVICES Fourth in the Series!@# Evaluating Internal Controls Evaluating Overall Effectiveness, Identifying Matters for Improvement, and Ongoing Assessment of Controls

More information

Fraud Prevention, Detection, and Internal Controls

Fraud Prevention, Detection, and Internal Controls Fraud Prevention, Detection, and Internal Controls Budget, Accounting and Reporting Council May 28, 2015 Sherrie Ard, CPA, CFE Financial Management Specialist Local Government Performance Center Local

More information

Internal Control Evaluation

Internal Control Evaluation INTERNAL CONTROL EVALUATION Adapted from a checklist created by Jackie F. Breland, CPA (www.jackiebreland.com) Organization: Date Prepared or Updated: Prepared by: Introduction The purpose of this checklist

More information

2/27/2017. Segregation of Duties/ Internal Controls. Objectives. Agenda

2/27/2017. Segregation of Duties/ Internal Controls. Objectives. Agenda Segregation of Duties/ Internal Controls 2017 WASBO Accounting Conference David Maccoux, Shareholder Objectives Discuss failures of internal controls to detect or prevent fraud and learn how to implement

More information

Chapter 11 The Revenues, Receivables and Receipts Process

Chapter 11 The Revenues, Receivables and Receipts Process Chapter 11 The Revenues, Receivables and Receipts Process Understanding the Revenue, Receivables and Receipts Process The auditor must understand the business s method of generating revenues and use of

More information

CHAPTER 5 INFORMATION TECHNOLOGY SERVICES CONTROLS

CHAPTER 5 INFORMATION TECHNOLOGY SERVICES CONTROLS 5-1 CHAPTER 5 INFORMATION TECHNOLOGY SERVICES CONTROLS INTRODUCTION In accordance with Statements on Auditing Standards Numbers 78 and 94, issued by the American Institute of Certified Public Accountants

More information

Retail Payment Systems Internal Control Questionnaire

Retail Payment Systems Internal Control Questionnaire Retail Payment Systems Internal Control Questionnaire Completed by: Date Completed: POLICIES AND PROCEDURES 1. Has the board of directors, consistent with its duties and responsibilities, adopted formal

More information

The Episcopal Diocese of Kentucky

The Episcopal Diocese of Kentucky The Episcopal Diocese of Kentucky Internal Control Questionnaire Manual of Business Methods in Church Affairs (Spring 2012) Chapter II: Internal Controls, Section C The following Internal Control Questionnaire

More information

CHAPTER 10 THE REVENUE CYCLE: SALES AND CASH COLLECTIONS

CHAPTER 10 THE REVENUE CYCLE: SALES AND CASH COLLECTIONS Accounting Information Systems CHAPTER 10 THE REVENUE CYCLE: SALES AND CASH COLLECTIONS SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 10.1 This should generate a great deal of discussion. The basic issue concerns

More information

Segregation of Duties Employee Compensation

Segregation of Duties Employee Compensation Segregation of Duties Employee Compensation Internal Controls A process the provides reasonable assurance that the objectives of the institution will be achieved. Not one event, but a series of actions

More information

STATEMENT OF AUDITING STANDARDS 500 AUDIT EVIDENCE

STATEMENT OF AUDITING STANDARDS 500 AUDIT EVIDENCE STATEMENT OF AUDITING STANDARDS 500 AUDIT EVIDENCE (Issued January 2004) Contents Paragraphs Introduction 1-2 Concept of Audit Evidence 3-6 Sufficient Appropriate Audit Evidence 7-14 The Use of Assertions

More information

9/13/2017 CHA-CHING! PAYROLL CONTROLS THAT PAY OFF PERSONAL INTRODUCTION. Personal Introduction. Melinda Stinnett, CPA, CIA Managing Director

9/13/2017 CHA-CHING! PAYROLL CONTROLS THAT PAY OFF PERSONAL INTRODUCTION. Personal Introduction. Melinda Stinnett, CPA, CIA Managing Director CHA-CHING! PAYROLL CONTROLS THAT PAY OFF Melinda Stinnett, CPA, CIA Managing Director September 15, 2017 1 PERSONAL INTRODUCTION Professional Bachelor s Degree (Accounting) Oklahoma State University Public

More information

THE UNIVERSITY OF GEORGIA INTERNAL AUDITING DIVISION INTERNAL CONTROL QUESTIONNAIRE GENERAL

THE UNIVERSITY OF GEORGIA INTERNAL AUDITING DIVISION INTERNAL CONTROL QUESTIONNAIRE GENERAL GENERAL BACKGROUND MATERIAL A. Please provide an organization chart which shows lines of authority and responsibility for the unit. B. What department code(s) does your Office manage? C. Who is the contact

More information

SAN FRANCISCO COURT APPOINTED SPECIAL ADVOCATE PROGRAM

SAN FRANCISCO COURT APPOINTED SPECIAL ADVOCATE PROGRAM SAN FRANCISCO COURT APPOINTED SPECIAL ADVOCATE PROGRAM FINANCIAL PROCEDURES MANUAL Table of Contents GENERAL ACCOUNTING POLICY AND PROCEDURES... 3 OVERALL ACCOUNTING SYSTEM DESIGN... 3 CONTROL OBJECTIVE...

More information

Maryland School for the Deaf

Maryland School for the Deaf Audit Report Maryland School for the Deaf December 2015 OFFICE OF LEGISLATIVE AUDITS DEPARTMENT OF LEGISLATIVE SERVICES MARYLAND GENERAL ASSEMBLY For further information concerning this report contact:

More information

Microsoft Dynamics GP. Purchase Order Processing

Microsoft Dynamics GP. Purchase Order Processing Microsoft Dynamics GP Purchase Order Processing Copyright Copyright 2007 Microsoft Corporation. All rights reserved. Complying with all applicable copyright laws is the responsibility of the user. Without

More information

Sarbanes Oxley Impact on Supply Chain Management

Sarbanes Oxley Impact on Supply Chain Management Sarbanes Oxley Impact on Supply Chain Management Robert J. Engel, C.P.M. National Director of Client Service Resources Global Professionals-SCM Practice 713-403-1979: Bob.Engel@Resources-us.com 91 st Annual

More information

Cash Reconciliations and Cash Handling

Cash Reconciliations and Cash Handling Cash Reconciliations and Cash Handling WASBO Accounting Conference March, 2016 Handling Cash Cash may be the most vulnerable asset in your LEA. How do you safeguard your cash? Timely reconciliation of

More information

Cash register reconciliation template

Cash register reconciliation template Cash register reconciliation template Search 27-1-2018 The process of counting the money, reconciling the receipts and balancing the cash drawer creates an internal control of the day's transactions. 13-1-2017

More information

Sage MAS 90 and 200 Product Update 2 Delivers Added Value!

Sage MAS 90 and 200 Product Update 2 Delivers Added Value! Sage MAS 90 and 200 Product Update 2 Delivers Added Value! The second Sage MAS 90 and 200 4.4 Product Update 4.40.0.2 is available via a compact download from Sage Online. Delivering additional features

More information

Response to County Auditor's Review of Airport Parking Revenues and Parking Information Systems (Report 17-11)

Response to County Auditor's Review of Airport Parking Revenues and Parking Information Systems (Report 17-11) FLORIDA BERTHA W. HENRY, County Administrator 115 S. Andrews Avenue, Room 409 Fort Lauderdale, Florida 33301 954-357-7362 FAX 954-357-7360 MEMORANDUM DATE: May 26, 2017 TO: /.om missioners FROM: SUBJECT:

More information

File. Audit. City Auditor

File. Audit. City Auditor Accounts Payab ble - Vendor Master File Audit Craig Hametner, CPA, CIA, CISA, CMA, CFE City Auditor Prepared By Marla Hamilton, Staff Auditor Reviewed By Jed Johnson, Sr. Auditor INTERNAL AUDIT DEPARTMENT

More information

Kuali Cashier Applications

Kuali Cashier Applications Kuali Cashier Applications Kuali is a web-based financial services system tailored to a university s specialized accounting functions. The system uses electronic documents, e-docs, to enter information

More information

- Excessive gambling or investment habits - Strong challenge to beat the system - Undue family pressure such as divorce - Overwhelming desire for pers

- Excessive gambling or investment habits - Strong challenge to beat the system - Undue family pressure such as divorce - Overwhelming desire for pers RED FLAGS OF INTERNAL FRAUD PROFILE OF THE PERPETRATOR: - Most frequently it is the person you trust the most - Has the technical skills to pull off the theft secretly - The activity is clandestine - The

More information

ASSET INVENTORY BEST PRACTICES:

ASSET INVENTORY BEST PRACTICES: ASSET INVENTORY BEST PRACTICES: Company-Wide Implementation to Reduce Costs and Ensure Compliance >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> White Paper Effective Asset Inventory Management In today s current

More information

Microsoft Dynamics GP. Purchase Order Processing

Microsoft Dynamics GP. Purchase Order Processing Microsoft Dynamics GP Purchase Order Processing Copyright Copyright 2005 Microsoft Corporation. All rights reserved. Complying with all applicable copyright laws is the responsibility of the user. Without

More information

Week 3: Fraud, Procure to Pay Process Controls

Week 3: Fraud, Procure to Pay Process Controls Edward Beaver Edward.Beaver@temple.edu ff MIS 5121: Business Processes, ERP Systems & Controls Week 3: Fraud, Procure to Pay Process Controls Video: Record the Class Discussion v Something really new,

More information

Activant Prophet 21. Perfecting Your Month and Year End Closing Routines

Activant Prophet 21. Perfecting Your Month and Year End Closing Routines Activant Prophet 21 Perfecting Your Month and Year End Closing Routines This class is designed for System Administrators Operation Managers Accounting Managers Objectives Suggested month end and year end

More information

Cash Processing and Handling Audit

Cash Processing and Handling Audit INTERNAL AUDIT Cash Processing and Handling Audit Prepared by Michelle Tressler, CIA City Auditor January 9, 2017 Report 201603 Table of Contents Page Executive Summary 2 Objective 3 Scope and Methodology

More information

AN AUDIT OF INTERNAL CONTROL THAT IS INTEGRATED WITH AN AUDIT OF FINANCIAL STATEMENTS: GUIDANCE FOR AUDITORS OF SMALLER PUBLIC COMPANIES

AN AUDIT OF INTERNAL CONTROL THAT IS INTEGRATED WITH AN AUDIT OF FINANCIAL STATEMENTS: GUIDANCE FOR AUDITORS OF SMALLER PUBLIC COMPANIES 1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8430 www.pcaobus.org PRELIMINARY STAFF VIEWS AN AUDIT OF INTERNAL CONTROL THAT IS INTEGRATED WITH AN AUDIT OF FINANCIAL

More information

End of Month Processing

End of Month Processing End of Month Processing Ver 040510 Overview: Each of the MAS accounting modules, excluding Bill of Lading, Packaging, Custom Office, Library Master and Report Master require a closing process at or near

More information

Month End Closing Procedures

Month End Closing Procedures Month End Closing Procedures Overview Throughout the month journal entry transactions are created by processing of accounts payable, accounts receivable, billing, cash receipts, etc. The following is a

More information

Review of Airport Parking Revenues and Parking Information Systems

Review of Airport Parking Revenues and Parking Information Systems Exhibit 1 Review of Airport Parking Revenues and Parking Information Systems March 30, 2017 Report No. 17-11 Office of the County Auditor Kathie-Ann Ulett, CPA Interim County Auditor Table of Contents

More information

The Auditor s Responses to Assessed Risks

The Auditor s Responses to Assessed Risks SINGAPORE STANDARD SSA 330 ON AUDITING The Auditor s Responses to Assessed Risks SSA 330, The Auditor s Responses to Assessed Risks superseded SSA 330, The Auditor s Procedures in Response to Assessed

More information

AUDIT OF CUSTOMER SERVICE REPRESENTATIVE PETTY CASH DRAWER. All campuses served by Louisiana State University (LSU) Office of Accounting Services

AUDIT OF CUSTOMER SERVICE REPRESENTATIVE PETTY CASH DRAWER. All campuses served by Louisiana State University (LSU) Office of Accounting Services Louisiana State University Finance and Administrative Services Operating Procedure AUDIT OF CUSTOMER SERVICE REPRESENTATIVE PETTY CASH DRAWER FASOP: AS-10 Scope: Effective: Purpose: All campuses served

More information

Internal Audit Report. Contract Administration: 601CT Contracts TxDOT Internal Audit Division

Internal Audit Report. Contract Administration: 601CT Contracts TxDOT Internal Audit Division Internal Audit Report Contract Administration: 601CT Contracts TxDOT Internal Audit Division Objective Review contract administration and governance of 601CT contracts for structural compliance with laws

More information

Month End Closing Procedures

Month End Closing Procedures Overview: Month End Closing Procedures Throughout the month journal entry transactions are created by processing of accounts payable, accounts receivable, billing, cash receipts, etc. The following is

More information

SAGE ACCPAC. Sage Accpac ERP. Converting from Simply Accounting by Sage

SAGE ACCPAC. Sage Accpac ERP. Converting from Simply Accounting by Sage SAGE ACCPAC Sage Accpac ERP Converting from Simply Accounting by Sage 2008 Sage Software, Inc. All rights reserved. Sage Software, Sage Software logos, and all Sage Accpac product and service names are

More information

FLORIDA DEPARTMENT OF TRANSPORTATION

FLORIDA DEPARTMENT OF TRANSPORTATION FLORIDA DEPARTMENT OF TRANSPORTATION 6-month Follow-up to the Office of the Auditor General Information Technology Operational Audit-Department of Transportation Electronic Estimate Disbursement System

More information

Advanced. This workbook has been written to follow the MYOB Basics plus BAS and MYOB AccountRight v19 Intermediate workbooks.

Advanced. This workbook has been written to follow the MYOB Basics plus BAS and MYOB AccountRight v19 Intermediate workbooks. MYOB AccountRight v19 Preface Advanced This workbook has been written to follow the MYOB Basics plus BAS and MYOB AccountRight v19 Intermediate workbooks. In this workbook the participant learns how to

More information

Guide to Internal Controls

Guide to Internal Controls Guide to Internal Controls Updated January 2017 The Guide to Internal Controls was developed to help you establish and maintain effective internal controls in your department/division. This guide summarizes

More information

Internal Controls: Need Them, Have Them, Love Them

Internal Controls: Need Them, Have Them, Love Them Internal Controls: Need Them, Have Them, Love Them Tiffany R. Winters, Esquire twinters@bruman.com Brustein & Manasevit Fall Forum 2010 Why Do We Have Internal Controls? The Federal Managers Financial

More information

Audit evidence. chapter. Chapter learning objectives. When you have completed this chapter you will be able to:

Audit evidence. chapter. Chapter learning objectives. When you have completed this chapter you will be able to: chapter 9 Audit evidence Chapter learning objectives When you have completed this chapter you will be able to: explain the assertions contained in the financial statements explain the use of assertions

More information

UNIVERSITY OF NEW MEXICO INTERNAL AUDIT CONTROL SELF ASSESSMENT QUESTIONNAIRE. School/Organization Phone Organization Code

UNIVERSITY OF NEW MEXICO INTERNAL AUDIT CONTROL SELF ASSESSMENT QUESTIONNAIRE. School/Organization Phone Organization Code UNIVERSITY OF NEW MEXICO INTERNAL AUDIT CONTROL SELF ASSESSMENT QUESTIONNAIRE School/Organization Phone Organization Code The purpose of the control self-assessment is to provide you with a tool to evaluate

More information

integrate 2 Business Process Redesign: Business Process Recommendations General Ledger Accounting May 31, 2013

integrate 2 Business Process Redesign: Business Process Recommendations General Ledger Accounting May 31, 2013 integrate 2 Business Process Redesign: Business Process Recommendations General Ledger Accounting May 31, 2013 Business Process Recommendations: Introduction Business Process Recommendations SUB-PROCESS

More information

QA 2 / 2011 OCCURRENCE OF REVENUE FROM SALE OF GOODS

QA 2 / 2011 OCCURRENCE OF REVENUE FROM SALE OF GOODS QA 2 / 2011 OCCURRENCE OF REVENUE FROM SALE OF GOODS MAY 2011 INTRODUCTION 1. Revenue is used not only by the company s management but also by various other external stakeholders such as investors and

More information

TTC AUDIT COMMITTEE REPORT NO.

TTC AUDIT COMMITTEE REPORT NO. Form Revised: February 2005 TTC AUDIT COMMITTEE REPORT NO. MEETING DATE: January 23, 2011 SUBJECT: INTERNAL AUDIT PLANT MAINTENANCE DEPARTMENT BUILDING EQUIPMENT, FACILITIES, AND PLANT MAINTENANCE ENGINEERING

More information

Year-End Close Checklists

Year-End Close Checklists Sage Master Builder Year-End Close Checklists Calendar-year, Fiscal-year, Combined NOTICE This document and the Sage Master Builder software may be used only in accordance with the accompanying Sage Master

More information

2011 CFS Salary Guide

2011 CFS Salary Guide 2011 CFS Salary Guide Creative Financial Staffing www.cfstaffing.com Welcome to the 2011 CFS Salary Guide The 2011 CFS Salary Guide consists of the following sections: National Salary Data Local Market

More information

FINANCE & ADMINISTRATIVE SERVICES S MISSION, VISION, and PRIMARY OBJECTIVE

FINANCE & ADMINISTRATIVE SERVICES S MISSION, VISION, and PRIMARY OBJECTIVE FINANCE & ADMINISTRATIVE SERVICES S MISSION, VISION, and PRIMARY OBJECTIVE Our Mission The mission of the Finance & Administrative Services Departments is to work in partnership with the Mayor, City Council

More information

What does an external auditor look for in SAP R/3 during SOX 404 Audits? Ram Bapu, CISSP, CISM Sandra Keigwin, CISSP

What does an external auditor look for in SAP R/3 during SOX 404 Audits? Ram Bapu, CISSP, CISM Sandra Keigwin, CISSP What does an external auditor look for in SAP R/3 during SOX 404 Audits? Ram Bapu, CISSP, CISM Sandra Keigwin, CISSP What does an external auditor look for in SAP during SOX 404 Audits? Corporations have

More information

An Oracle White Paper December Reducing the Pain of Account Reconciliations

An Oracle White Paper December Reducing the Pain of Account Reconciliations An Oracle White Paper December 2012 Reducing the Pain of Account Reconciliations Introduction The finance department in most organizations is coming under increasing pressure to transform and streamline

More information

Bookkeeping & Accounting Services

Bookkeeping & Accounting Services Nonprofit Services & Solutions Bookkeeping & Accounting Services This Packet Includes: Services Overview Package Options & Pricing Outsourcing About Us Service Overview Bookkeeping Starting or managing

More information

Welcome to the topic on purchasing items.

Welcome to the topic on purchasing items. Welcome to the topic on purchasing items. 1 In this topic, we will perform the basic steps for purchasing items. As we go through the process, we will explain the consequences of each process step on inventory

More information

Financial Transactions and Fraud Schemes

Financial Transactions and Fraud Schemes Financial Transactions and Fraud Schemes Asset Misappropriation: Cash Receipts 2016 Association of Certified Fraud Examiners, Inc. Fraud Tree 2016 Association of Certified Fraud Examiners, Inc. 2 of 27

More information

Chapter 7 Internal Controls

Chapter 7 Internal Controls Chapter 7 Internal Controls Establishment of and adherence to internal controls is a major part of managing an organization. Internal controls serve as the first line of defense in safeguarding assets

More information

Business Requirements Definitions

Business Requirements Definitions Business Requirements s Department of Financial Services Date: 01/19/2017 Revision: Version 2.0 Table of Contents Overview... 3 Priority Field Values s... 4 Functional Requirements Categories... 5 Accounts

More information

International Standard on Auditing (Ireland) 500 Audit Evidence

International Standard on Auditing (Ireland) 500 Audit Evidence International Standard on Auditing (Ireland) 500 Audit Evidence MISSION To contribute to Ireland having a strong regulatory environment in which to do business by supervising and promoting high quality

More information

Sage ERP X3 Finance

Sage ERP X3 Finance Finance www.goism.com 877-496-5350 sales@goism.com Finance Sage ERP X3 Finance covers financial, personal, cost, and budget accounting, commitments, and fixed assets. The finance capabilities of Sage ERP

More information

Challenges & Best Practices in Managing the Account Reconciliation Process

Challenges & Best Practices in Managing the Account Reconciliation Process Challenges & Best Practices in Managing the Account Reconciliation Process Presenters: Donna Dean, CPA Experis Finance Director, Finance & Accounting Susan Parcells, CPA BlackLine Systems Director Finance

More information

Any observations not included in this report were discussed with your staff at the informal exit conference and may be subject to follow-up.

Any observations not included in this report were discussed with your staff at the informal exit conference and may be subject to follow-up. Larry Mandel Vice Chancellor and Chief Audit Officer Office of Audit and Advisory Services 401 Golden Shore, 4th Floor Long Beach, CA 90802-4210 562-951-4430 562-951-4955 (Fax) lmandel@calstate.edu August

More information

Enhancing Procurement Card Programs For E-Commerce & Mission Success. IntraMalls Assurance Services

Enhancing Procurement Card Programs For E-Commerce & Mission Success. IntraMalls Assurance Services Enhancing Procurement Card Programs For E-Commerce & Mission Success IntraMalls Assurance Services IntraMall Mission Deliver Extraordinary Value E-Purchase Payment Efficiencies P-Cards and Electronic Funds

More information

If an adequate segregation of duties does not exist, the following could occur:

If an adequate segregation of duties does not exist, the following could occur: Segregation of Duties Safeguarding Assets Review and Approval Accounting Policies and Procedures Efficiency and Effectiveness Reporting Timeliness Segregation of Duties Duties within the department or

More information

MONTH END CLOSING INSTRUCTIONS FOR ACTUALS LEDGER

MONTH END CLOSING INSTRUCTIONS FOR ACTUALS LEDGER MONTH END CLOSING INSTRUCTIONS FOR ACTUALS LEDGER Revised by Financial Operations 05/20/2009 Month End Closing Instructions for ACTUALS Ledger CONTENTS: OVERVIEW 3 HELP 5 DETERMINING IF A BUSINESS UNIT

More information

POSITION DESCRIPTION Financial Administrator. February 2017

POSITION DESCRIPTION Financial Administrator. February 2017 POSITION DESCRIPTION Financial Administrator February 2017 Reporting to the Executive Director of the Nova Scotia Health Research Foundation (NSHRF), the Financial Administrator is responsible for the

More information

Loch Lomond and The Trossachs National Park Authority. Key Controls Report

Loch Lomond and The Trossachs National Park Authority. Key Controls Report Loch Lomond and The Trossachs National Park Authority Key Controls Report Prepared for Loch Lomond and The Trossachs Park Authority April 2015 Audit Scotland is a statutory body set up in April 2000 under

More information

Chapter 2 The Public Accounting Profession

Chapter 2 The Public Accounting Profession Chapter 2 The Public Accounting Profession Audit Challenge 2-1: Top-Quality Service East and West Chapter 2: The Public Accounting Profession 1. They would be looking for members that are current in their

More information

The School Board of Broward County, Florida Treasurer s Office 7720 West Oakland Park Blvd. Suite 319 Sunrise, FL

The School Board of Broward County, Florida Treasurer s Office 7720 West Oakland Park Blvd. Suite 319 Sunrise, FL Signatures on file The School Board of Broward County, Florida Treasurer s Office 7720 West Oakland Park Blvd. Suite 319 Sunrise, FL 33351 July 15, 2005 TO: FROM: VIA: SUBJECT: Principals Nell Johnson,

More information

Prince William County Public Schools Annual Audit Plan

Prince William County Public Schools Annual Audit Plan Prince William County Public Schools 2011 Annual Audit Plan Office of Internal Audit Vivian Calkins-McGettigan, MBA, CPA, CPFO Chief Internal Auditor Table of Contents Foreword 3 Introduction to the Office

More information

Get Invoice Processing That s Ready for the Digital Economy and Your IT Landscape

Get Invoice Processing That s Ready for the Digital Economy and Your IT Landscape SAP Brief SAP Extensions SAP Invoice Management by OpenText Objectives Get Invoice Processing That s Ready for the Digital Economy and Your IT Landscape Get ready for a new approach to invoice processing

More information

MODULE 3 SUPPORTING DOCUMENTS. 3.1 The basics of supporting documentation and how to organize it 3.2 How to organize the authorization processes?

MODULE 3 SUPPORTING DOCUMENTS. 3.1 The basics of supporting documentation and how to organize it 3.2 How to organize the authorization processes? MODULE 3 SUPPORTING DOCUMENTS 3.1 The basics of supporting documentation and how to organize it 3.2 How to organize the authorization processes? COLOPHON CNV Internationaal P.O. Box 2475 3500 GL Utrecht

More information

Kianoff & Associates Crystal Clear Reports for Sage 100

Kianoff & Associates Crystal Clear Reports for Sage 100 Kianoff & Associates Crystal Clear Reports for Sage 100 We have developed Crystal Reports for all current versions of Sage 100 and are available for most all modules. Accounts Payable BP801- Vendor File

More information

MARKET LINE COMPUTERS TOTAL RENTAL USER MANUAL

MARKET LINE COMPUTERS TOTAL RENTAL USER MANUAL MARKET LINE COMPUTERS TOTAL RENTAL USER MANUAL CONTRACT FUNCTIONS... 4 OPENING A NEW RENTAL CONTRACT... 5 CREATING A RENTAL RESERVATION... 6 RESERVATIONS... 7 LONG-TERM CONTRACTS... 8 CREATING A QUOTE...

More information

Financial Year End Processing

Financial Year End Processing Financial Year End Processing 2009-2010 Pronto is a registered trademark and PRONTO-Xi is a trademark of Pronto Software Pty Ltd (ABN 47 001 337 248) All other products mentioned are trademarks or registered

More information

ClubConnect Accounts Payable Understanding Invoice and Check Types for Easy Processing

ClubConnect Accounts Payable Understanding Invoice and Check Types for Easy Processing ClubConnect Accounts Payable Understanding Invoice and Check Types for Easy Processing Webinar Topics Invoices... 3 Special Invoice Situations... 3 Prepaid Invoices... 3 Reciprocal Club Invoices... 8 Invoices

More information

Accounting Procedures

Accounting Procedures Accounting Procedures Steven M. Bragg Chapter 1 Overview of Accounting Procedures... 1 Learning Objectives... 1 Introduction... 1 The Nature of a Procedure... 1 The Need for Procedures... 1 The Number

More information

SECTION 13 DROP AND COUNT

SECTION 13 DROP AND COUNT 13.1 General Standards A. Drop and Count Schedule 1. All in service casino instrument storage containers shall be removed only at the time previously designated by the casino operation and reported to

More information

Pastel Accounting level 1 course content (2-day)

Pastel Accounting level 1 course content (2-day) http://www.multimediacentre.co.za Cape Town: 021 790 3684 Johannesburg: 011 083 8384 Pastel Accounting level 1 course content (2-day) Course Description: Bookkeeping Fundamentals course is a comprehensive

More information

Auditing Standards and Practices Council

Auditing Standards and Practices Council Auditing Standards and Practices Council PHILIPPINE STANDARD ON AUDITING 315 UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT PHILIPPINE STANDARD ON AUDITING

More information

University of Central Arkansas Inventory Procedures Manual Revised January 2016

University of Central Arkansas Inventory Procedures Manual Revised January 2016 University of Central Arkansas Inventory Procedures Manual Revised January 2016 Table of Contents Policy... 2 Definitions... 2 Property Responsibility... 2 Equipment Purchases... 3 Donated Equipment...

More information

CITY OF CORPUS CHRISTI

CITY OF CORPUS CHRISTI CITY OF CORPUS CHRISTI CITY AUDITOR S OFFICE Audit of Purchasing Program Project No. AU12-004 September 20, 2012 City Auditor Celia Gaona, CIA CISA CFE Auditor Nora Lozano, CIA CISA Executive Summary In

More information