AU Locks Auditing Services

Internal Control Questionnaire for Sales Adjustments

Cycle: RevenueClass of Transactions: Sales Adjustments

Yes No NA Remarks
1. Are all cash discounts approved?
2. Are sales returns and allowances approved
by sales personnel?
3. Are prenumbered credit memos used for
sales returns and allowances?
4. Is there separation of duties between
approval of sales returns and allowances and
issuance of credit memos?
5. Are all bad debt write-offs approved in
writing?
6. Is there separation of duties between the
approval of bad debt write-offs and
collections from customers?

Prepared by:

Casaba, Veronica Andrea C. Lopez, Lara Dianne R.

Dimaano, Lyka Mae D. Tagle, Myzelle R.

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 AU Locks Auditing Services

Internal Control Questionnaire for Cash Receipts Transactions

Cycle: Revenue Class of Transactions: Cash Receipts

Executing Yes No NA Remarks
1. Are mail receipts opened by personnel
independent of Shipping, Billing, and
Accounting?
2. Is a remittance list prepared for mail
receipts?
3. Are checks endorsed restrictively
immediately upon opening the mail?
4. Are the cash registers used for over-the-
counter receipts?
5. Are prelists and checks independently
reconciled with cash summaries?
6. Are cash collections deposited daily?
7. Are deposits and daily cash summaries
independently reconciled?
8. Are all employees who handle cash bonded
adequately?
Recording
1. Are accounting personnel prohibited from
handling cash?
2. Is there internal verification of the agreement
of daily cash summaries and cash receipts
journal entries?
3. Is there separation of duties between the
journalizing of cash receipts transactions and
posting to the customer’s ledger?
Custody
1. Is cash stored is safes or vaults prior to
deposit?
2. Are periodic independent counts made of
cash on hand?

Prepared by:

Casaba, Veronica Andrea C. Lopez, Lara Dianne R.

Dimaano, Lyka Mae D. Tagle, Myzelle R.

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 AU Locks Auditing Services

Internal Control Questionnaire for Acquisitions

Cycle: Expenditure Class of Transactions: Acquisitions

Executing Yes No NA Remarks
1. Is there separation between authority,
recording, and custody of
merchandise/supplies purchases?
2. Are steps taken to ensure the best price for
merchandise?
3. Is immediate control established over
merchandise received from vendors?
4. Are receiving reports made out after an
independent count?
5. Is a signed receipt obtained from storeroom
on delivery of goods by receiving?
6. Are purchase orders, receiving reports, and
vendor’s invoices matched in preparing
vouchers?
7. Are vouchers internally verified for
accuracy?
8. Are vouchers approved by authorized
personnel?
9. Are daily voucher summaries prepared and
agreed to vouchers issued?
Recording
1. Are all issued vouchers accounted for in
journalizing?
2. Are voucher register entries reviewed for
reasonableness?
3. Are unpaid voucher file and perpetual
inventory records independently maintained?
4. Are there periodic independent
reconciliations of control accounts and
subsidiary records?
Custody
1. Are goods stored in locked areas with
restricted access?
2. Are there periodic independent comparisons
of inventory records with goods on hand?

Prepared by

Casaba, Veronica Andrea C. Lopez, Lara Dianne R.

Tagle, Myzelle R.
Dimaano, Lyka Mae D.

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 AU Locks Auditing Services

Internal Control Questionnaire for Cash Disbursements Transactions

Cycle: Expenditure Class of Transactions: Cash Expenditure

Executing Yes No NA Remarks
1. Are all disbursements (except for petty cash)
made by checks?
2. Are imprinted and pre-numbered checks
used?
3. Is a check protection device used in printing
the check amount?
4. Is each check supported by an approved
voucher?
5. Is supporting documentation mutilated after
payment?
6. Are two signatures required on each check?
7. Does last check signer mail the check and
remittance advice?
8. Are there prohibitions against issuing checks
to cash or bearer?
9. Is the signing of blank checks prohibited?
10. Is a daily summary of checks prepared and
agreed to checks issued?
Recording
1. Are accounting personnel prohibited from
signing checks?
2. Are daily summaries of checks compared
with check register totals?
3. Are checks recorded in numerical sequence?
Custody
1. Are there periodic independent
reconciliations of bank accounts?

Prepared by:

Casaba, Veronica Andrea C. Lopez, Lara Dianne R.

Tagle, Myzelle R.
Dimaano, Lyka Mae D.

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 AU Locks Auditing Services

Internal Control Questionnaire for Sales

Client Audit Date

Client Personnel Interview:

Auditor Date Completed

Reviewed by: Date Reviewed
Type of Testing: Compliance

Cycle: Revenue Class of Transactions: Sales

Executing Yes No NA Remarks
1. Are customer orders compared to an
approved customer lists?
2. Is a prenumbered sales order issued for each
accepted customer order?
3. Is there internal verification of the agreement
of sales order with customer order?
4. Are all credit sales approved prior to the
sale?
5. Is a sales order required before an order is
filed?
6. Is there internal verification of the goods in
filling a sales order?
7. Are the goods compared with the sales order
in shipping?
8. Is each shipment supported by a pre-
numbered shipping document?
9. Are shipping documents and sales orders
compared in billing?
10. Are pre-numbered sales invoices used in
billing?
11. Is there internal verification of prices and
mathematical accuracy of sales invoices?
12. Are daily sales summaries prepared and
agreed to the invoices issued?
Recording
1. Are the daily sales journal entries agreed to
daily sales summaries?
2. Are invoices journalized in numerical
sequence?
3. Is there periodic independent reconciliation
of accounts receivable control and the
customers’ ledger?

4. Are posting to the subsidiary ledgers made

independent of journalizing and posting the
general ledger?
Custody
1. Are there adequate physical controls over
accounts receivable records?
2. Is there independent mailing of monthly
statements to customers?

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 AU Locks Auditing Services

Prepared by:

Casaba, Veronica Andrea C.

Dimaano, Lyka Mae D.

Lopez, Lara Dianne R.

Tagle, Myzelle

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AU Locks Auditing Services