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internal control questionnaire


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A document used by an auditor to assess the internal control system of an organization. Questions will be tailored to the cycle being audited; for example, the sales or revenue cycle will check that sales are authorized, goods are invoiced, invoices are properly prepared, recorded, and supported, and payment is received at the correct time. The questionnaire will be used by the auditor to identify strengths and weaknesses in the system, which can be used to predict the errors or irregularities that could occur. These predictions enable the auditors to design substantive tests to discover and quantify errors.

Subjects: Accounting.


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