Apollo Questionaire
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Internal Control Questionnaire—Sales Transaction Processing Assertions and Questions | Yes, No, N/A | Comments | Occurrence assertion: | 1. Is the credit department independent of the sales department? | Yes | Credit manager in Treasurer's office | 2. Are sales of the following types controlled by the same procedures described below? Sales to employees, COD sales, disposals of property, cash sales, and scrap sales. | N/A | | 3. Is access to sales invoice blanks restricted? | Yes | Is locked up in a closet | 4. Are pre-numbered bills of lading or other shipping documents prepared or completed in the shipping department? | Yes | Completed in the shipping department | Completeness assertion: | 5. Are sales invoice blanks pre-numbered? | Yes | | 6. Is the sequence checked for missing invoices? | N/A | | 7. Is the shipping document numerical sequence checked for missing bills of lading numbers? | N/A | | Accuracy assertion: | | | 8. Are all credit sales approved by the credit department prior to shipment? | Yes | Are filed by the credit manager | 9. Are sales prices and terms based on approved standards? | Yes | Approved price filed | 10. Are returned sales credits and other credits supported by documentation as to receipt, condition, and quantity, and approved by a responsible officer? | N/A | | 11. Are shipped quantities compared to invoice quantities? | Yes | Shipping department clerk | 12. Are sales invoices checked for error in quantities, prices, extensions and footing, and freight allowances, and checked with customers’ orders? | Yes | Accounts receivable clerk | 13. Is there an overall check on arithmetic accuracy of period sales data by a statistical or product-line analysis? | Yes | Marketing Vice President | 14. Are periodic sales data reported directly to general ledger accounting independent of accounts receivable accounting? | No | |
Internal Control Questionnaire—Sales Transaction Processing Assertions and Questions | Yes, No, N/A | Comments | Occurrence assertion: | 1. Is the credit department independent of the sales department? | Yes | Credit manager in Treasurer's office | 2. Are sales of the following types controlled by the same procedures described below? Sales to employees, COD sales, disposals of property, cash sales, and scrap sales. | N/A | | 3. Is access to sales invoice blanks restricted? | Yes | Is locked up in a closet | 4. Are pre-numbered bills of lading or other shipping documents prepared or completed in the shipping department? | Yes | Completed in the shipping department | Completeness assertion: | 5. Are sales invoice blanks pre-numbered? | Yes | | 6. Is the sequence checked for missing invoices? | N/A | | 7. Is the shipping document numerical sequence checked for missing bills of lading numbers? | N/A | | Accuracy assertion: | | | 8. Are all credit sales approved by the credit department prior to shipment? | Yes | Are filed by the credit manager | 9. Are sales prices and terms based on approved standards? | Yes | Approved price filed | 10. Are returned sales credits and other credits supported by documentation as to receipt, condition, and quantity, and approved by a responsible officer? | N/A | | 11. Are shipped quantities compared to invoice quantities? | Yes | Shipping department clerk | 12. Are sales invoices checked for error in quantities, prices, extensions and footing, and freight allowances, and checked with customers’ orders? | Yes | Accounts receivable clerk | 13. Is there an overall check on arithmetic accuracy of period sales data by a statistical or product-line analysis? | Yes | Marketing Vice President | 14. Are periodic sales data reported directly to general ledger accounting independent of accounts receivable accounting? | No | |