SCOTs Financial Statement Closing Process

WCGW M/V-Journal entries are not correctly calculated.

Control System is properly configured to prevent unbalanced journal entries.
Testing Procedures
Evidence:

Testing result:
SCOTs Purchase, trade payables and rebates
WCGW C,M/V-Invoices are incorrect as to prices, quantities, date service performed,
etc.
E/O-Fictitious/duplicate purchases are recorded
Control System automatically performs three way matching of purchase order, goods
receipt, supplier's invoice and payment.
Testing Procedures
Evidence:

Testing result:
SCOTs Sales and trade receivables
WCGW M/V-Sales are made to uncreditworthy customers.
Control System rejects SO if the credit limit for sales persons has been exceeded.
Testing Procedures Check limit dari master data dicocokkan ke AR Report
Evidence:

Testing result:
Nilai piutang melebihi credit limit
SCOTs Payroll
WCGW Costing of payroll to general ledger is incorrect.
Control System is configured to map salary expenses into correct GL accounts.
Testing Procedures Recalculation
Evidence:

Testing result:
Hasilnya sama.
SCOTs Inventory Costing and Cost of Sales - Materials and Supplies
WCGW Costing method is improperly applied, updated and computed.
Control System is designed to automatically calculate cost of sales based on predefined
criteria (inventory movement type) by using moving average cost.
Testing Procedures
Evidence:

Testing result:
SCOTs Purchases and Trade Payables & Cash Disbursement
WCGW Invoices are incorrect posted of prices, quantities, date service performed, etc &
cash disbursement is not posted and configured accurately and correctly to
general ledger
Control SAP is configured to accurately and automatically perform 3-way match (price
and quantity) between purchase orders, goods
Testing Procedures
Evidence:

Testing result:
SCOTs Purchases and Trade Payables
WCGW Incomplete and inaccurate purchases recorded due to unauthorized creation or
cancellation of goods receipt in system
Control Access to manage the GR given to staff who has authority
Testing Procedures
Evidence:

Testing result:
Based on our testing, we noted that manage GR can only be performed by personnel who has given the
authorization. Thus, we conclude this control as effective.