Discuss with the sales manager whether any sales allowances have been granted after the balance sheet date that may apply to the current period.
The following are audit procedures in the sales and collection cycle: 1. Foot the aged trial balance using audit software and compare the total with the general ledger. 2. Match sales invoices with subsequent cash receipts using audit software. 3. Examine a sample of customer orders and see whether each has a credit authorization. 4. […]