● Ledgers, Agreements and other related supporting documents are obtained from the client to ensure the completeness & accuracy transaction
● Perform ageing analysis and check whether there is any need for making provision for doubtful debts for long outstanding balances.
● Independent external Confirmations are sent to the customers and their response are noted to ensure the existence and accuracy of balances.
● Alternate procedures for confirmation replies not received have to be performed – payments should be checked for transactions subsequently settled and proof of service/ proof of delivery should be checked for transactions not settled to ensure that Trade receivables have been correctly recorded.
● Perform sampling to select the customers for test of details to ensure completeness and accuracy of transaction.
● Obtain the PO, invoices and proof of delivery for the above samples from client & match it from GL.
