Accounts Receivable Audit Procedures
Workbook includes columns with the risk title, description, control title, description and audit testing procedures for an audit of accounts receivable
1. Obtain the AR Reconciliations
a. Trace the sub ledger balance to the sub ledger system
b. Trace the GL balance to the GL,
c. Follow up with management on any significant or
unusual reconciling items, and
d. Verify that the reconciliation evidences an independent
review and approval.
2. Document the appropriateness of the review and approver.
3. Review testing and potential findings with audit and auditee management.