Audit Work On Trade Debtors/Sales: Ascertainment Of Correct Cut Off
The auditor will need to be satisfied of correct cut-off. Without a correct cut-of, sales can be overstated hence the need to perform the following cut off tests:
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1.0 For the last invoices issued during the year and which have been included in the debtors;
2.0 All good dispatched prior to the year end have been invoiced and included in debtors;
3.0 No goods dispatched after the year end have been invoiced and included in debtors
REFER TO MORE ARTICLES ON TOPIC ON AUDIT WORK ON TRADE DEBTORS |
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