10-43 Control Matrix
Internal Controls Recorded Acquistiions are for goods and services received (occurrence) Existing Acquistion Transactions are recorded (complete-ness). Recorded Acquistiions transactions are stated at the correct amounts (accuracy). Recorded Acquistion transactions are properly included in the master files, and are properly summarized (posting and summarization). Acquisition Transactions are properly classified (classification). Acquisition transactions are recorded on the correct dates (timing).
Control 1 Purchase requisition, purchase order, receiving report, and vendor's invoice are attached to the voucher. * C C 2 Acquisitions are approved at the proper level. C C C 3 Computer accepts entry of purchases only from authorized vendors in the vendor master file. C C 4 Documents are cancelled to pevent their reuse. C C 5 Vendors' invoices, receiving report, purchase orders, and purchase requisition are internally verified. * C C C 6 Purchase orders are prenumbered and accounted for. * C C 7 Receiving reports are prenumbered and accounted for. C C 8 Vouchers are prenumbered and accounted for. C C 9 Calculations and amounts are internally verified. C 10 Batch totals are compared with computer summary reports. C C C 11 Acquisitions are approved for prices and discounts C 12 Accounts payable master file contents are internally verified. C C C C C 13 Accounts payable master file or trail balance totals are compared with general ledger balances. C C C C 14 An adequate chart of accounts is used. C 15 Account clasifications are internally verified. C 16 Procedures require recording transaction as soon as possible after the goods and services have been received. C 17 Dates are internally verified. C
Deficiencies 1 Lack of internal Purchase order not approved D 2 Lack of internal Purchase quantities, prices, and / or extensions not correct D 3 Lack of
Control 1 Purchase requisition, purchase order, receiving report, and vendor's invoice are attached to the voucher. * C C 2 Acquisitions are approved at the proper level. C C C 3 Computer accepts entry of purchases only from authorized vendors in the vendor master file. C C 4 Documents are cancelled to pevent their reuse. C C 5 Vendors' invoices, receiving report, purchase orders, and purchase requisition are internally verified. * C C C 6 Purchase orders are prenumbered and accounted for. * C C 7 Receiving reports are prenumbered and accounted for. C C 8 Vouchers are prenumbered and accounted for. C C 9 Calculations and amounts are internally verified. C 10 Batch totals are compared with computer summary reports. C C C 11 Acquisitions are approved for prices and discounts C 12 Accounts payable master file contents are internally verified. C C C C C 13 Accounts payable master file or trail balance totals are compared with general ledger balances. C C C C 14 An adequate chart of accounts is used. C 15 Account clasifications are internally verified. C 16 Procedures require recording transaction as soon as possible after the goods and services have been received. C 17 Dates are internally verified. C
Deficiencies 1 Lack of internal Purchase order not approved D 2 Lack of internal Purchase quantities, prices, and / or extensions not correct D 3 Lack of