Internal Control Questionnaires and Verification Procedures

Other Assets Records

1. Is the preparation of entries and posting of subsidiary other asset records performed or tested by persons who do not also have direct control, either physical or accounting, of the related assets?

2. Are the subsidiary other asset records, if any, balanced, at least quarterly, to the appropriate general ledger accounts by persons who do not also have direct control, either physical or accounting, of the related assets?

3. Is the posting of other asset accounts to the general ledger approved prior to posting by persons who do not also have direct control, either physical or accounting, of the related assets?

4. Are worksheets or other supporting records maintained to support prepaid expense amounts?

5. Are supporting documents maintained for all entries to other assets?

6. Are the items included in suspense accounts aged and reviewed for propriety regularly by responsible personnel?

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