Common Internal Control Weaknesses – Financial Reporting
• Stale Policies andProcedures • General Ledger AccessControls • Training andStaff Development • UntimelyAccount Reconciliations • UntimelyRevenue Audit Processes
• Recognitionof Unique Eventsor Transactions (Asset Impairments, LossesDue toAsset Disposals, Natural Disasters, Insurance Recoveries,Derivatives, Long-Term Financing Arrangements,NewAcquisitionsor Business Lines) • Inadequate Segregationof Duties (ARC-Authorization, Recording, Custody)
CAGE PAPERWORK
BANK STATEMENT
GENERAL JOURNAL
PAYROLL REGISTER
CHECK REGISTER
THE GENERAL LEDGER
THE TRIAL BALANCE
COMPUTER SLOT SYSTEM
ADJUSTMENTS
FINANCIAL STATEMENTS
BlueBird CPAs
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