Internal Audit

Internal Audit

Internal Audit

Internal Audit Weaknesses & Recommendations for Manhattan Company

Following is the internal audit program which should be followed by Manhattan Company in order to avoid any discrepancy in their cash system

Cash/Cheque Receipts

Processing collections

Objectives

a.Access to cash receipts and cash receipts record, accounts receivable records, and billing and shipping records is controlled to prevent or detect, on a timely basis, the talking of unrecorded cash receipts or the abstraction of recorded cash receipts.

b.Details transactions and account balance records are reconciled, at reasonable intervals, with applicable control accounts and bank statements for timely detection and correction of errors.

1. Is the ...