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Segregation of Duties Questionnaire - Cash Receipts in Significant Accounting Applications

This document is a segregation of duties questionnaire for cash receipts that identifies which positions perform key duties related to authorization, custody of assets, recording, and control activities. It notes that duties performed by IT should be evaluated to ensure only authorized individuals can perform transactions or adjustments. The conclusion asks if any potentially conflicting duties have been identified and if so, their effects on controls, fraud risk, and the audit approach should be indicated.

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Irwansyah Iwe
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201 views2 pages

Segregation of Duties Questionnaire - Cash Receipts in Significant Accounting Applications

This document is a segregation of duties questionnaire for cash receipts that identifies which positions perform key duties related to authorization, custody of assets, recording, and control activities. It notes that duties performed by IT should be evaluated to ensure only authorized individuals can perform transactions or adjustments. The conclusion asks if any potentially conflicting duties have been identified and if so, their effects on controls, fraud risk, and the audit approach should be indicated.

Uploaded by

Irwansyah Iwe
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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SEGREGATION OF DUTIES QUESTIONNAIRE: CASH

RECEIPTS IN SIGNIFICANT ACCOUNTING APPLICATIONS

Company

Subsidiary or Division

Date

Custody Control
Duty Authorization Recording
of Assets Activity

Opens mail and lists checks. (Insert Position)

Handles receipts of currency. (Insert Position)

Prepares bank deposits. (Insert Position)

Compares list of checks to a bank (Insert Position)


deposit.

Maintains a cash receipts journal. (Insert Position)

Maintains accounts receivable (Insert Position)


records.

Reconciles bank accounts. (Insert Position)

Authorizes write-offs of (Insert Position)


uncollectible accounts.

Reconciles accounts receivable (Insert Position)


records to the general ledger.

Controls the accuracy, (Insert Position)


completeness of, and access to
cash receipts programs and data
files.

1 Source: www.knowledgeleader.com
ADDITIONAL CONSIDERATIONS

In instances where “computer” or “IT” has been listed as performing a function checked above, consider whether:
• The individual is authorized to enter transactions or adjustments and perform other incompatible duties.
• Whether the client has procedures to ensure that only authorized individuals have the capabilities to enter the
transactions or adjustments.

In addition, when “computer” or “IT” has been identified as performing potentially incompatible duties, consider
whether the segregation of duties within the IT department and/or other controls results in effective segregation of
duties.

CONCLUSION

Have any potentially conflicting duties been identified?

 Yes  No

If potentially conflicting duties have been identified, note them below and either:
• Indicate their effects on our evaluation of the controls over the cash receipts application, our assessment of the
risk of fraud, and our audit approach.
• Indicate where in the working papers their effects are considered, e.g., in our control analysis documentation
or the “Internal Control and Fraud Considerations” (ICFC) questionnaire.

2 Source: www.knowledgeleader.com

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