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Audit Communications

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Audit Communications
FAR EASTERN UNIVERSITY
Institute of Accounts, Business & Finance

Audit Communications

Report Writing

Canayon, Angelie Rose T.
Puno, Michelle Ann J.
Royong, Precious B.
Rubio, Ephraim Jomel P.
Tulio, Ayn Carla M.

AIA0212
TOPIC OR SECTION:
Account Receivable: Cashier’s Office

I. SCOPE
An audit of the Cashier’s Office was conducted for the period January 1, 2013 through December 31, 2013. The objectives of the audit were to examine and evaluate the following:
• Adequacy and effectiveness of departmental controls
• Compliance with policies and procedures
• Reliability and integrity of reported information
• Safeguarding of assets
• Economical and efficient use of resources

II. BACKGROUND
Payments are received in the Cashier’s Office for tuition and various student fees and are posted to the accounting systems. The Cashier’s Office also receipts payments through FRS for University departments receiving revenues and ensures proper allocation to the accounting systems. Payments are received via mail, phone and delivered in person to cashier windows. Forms of payments are currency, cashier check, money order, business check, personal check and credit card.

IV. ISSUES AND RECOMMENDATION
A. Statement of Condition: The University does not have procedures in place to control the numerical sequence of receipts issued by the Cashier’s Office. Two of the five initial receipts that we pulled were reported to be unused by the Cashier’s Office. University personnel could not explain why gaps existed in the range of receipt numbers or what happened to the missing receipts.
Also, the systems allows a receipt to be keyed and printed out without ever being entered into the system which means that a receipt could be produced and the amount not show up on the system produced reports. Our audit disclosed one receipt that did not appear to be entered into the system. Also, our audit disclosed two receipts that appeared to be

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