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Accounts Receivable Control-Service Industry

Name

Accounts Receivable Control-Service Industry

Description

Accounts Receivable audit procedures

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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Standard (Non-IT) Audit Program

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Subscription Level

Premium

Type

Procedures

Language

English