Test of Controls Objectives and Deviations.
Required:
Review each of the following controls. Identify (1) the objective of the audit team’s test of controls and (2) one example of a deviation from the control.
a. The credit department supervisor reviews each customer’s order and approves credit by making a notation on the order.
b. The billing department must receive written notice from the shipping department of actual shipment to a customer before a sale is recorded. The sales record date is supposed to be the shipment date.
c. Billing clerks carefully identify the correct catalog list prices for goods shipped and calculate and verify the amounts billed on invoices for the quantities of goods shipped.
d. Billing clerks review invoices for intercompany sales and mark each one with the code 9 so they will be posted to intercompany sales accounts.
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