Internal Control Questionnaires and Verification Procedures

Receivables

  1. Are receivables billed at regular intervals (if so, state frequency )?

  2. Does someone other than the originator of the entry review receivables for collectability at least quarterly?

  3. Is approval required to pay credit balances in receivable accounts?

  4. Do credit entries to a receivables account, other than payments, require the approval of an officer independent of the entry preparation?

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