Objectives:

i) to ensure effectiveness of credit and collection policies.

ii) to ensure credit and collection policies are adhered to.

iii) to ensure credit administration are properly performed.

iv) to ensure accounts receivable due from credit card companies are settled on timely basis.


Audit Procedures:

1. Policies review

i) Review credit and collection policies and procedures.

ii) Ensure credit control includes customer acceptance policy, assess of credit rating, proof of existence of customer (for corporation - business registration and address; for individual - identity card and utility bill), maintain of credit files and annual review of customer credit rating.

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