Internal Control Questionnaires and Verification Procedures

International Division

1. Are foreign currency control ledgers and dollar book value equivalents posted accurately?

2. Is each foreign currency revalued at least monthly, and are profit and loss entries passed to the appropriate income accounts?

3. Does someone review revaluation calculations, including the rates used periodically, for accuracy other than the foreign currency tellers?

4. Does the internal auditor periodically review for accuracy revaluation calculations, including the verification of rates used and the resulting general ledger entries?

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