Goods Invoiced and Recorded Sales System

Question 1

What is risk (despatched)

Answer 1

That goods despatched are not invoiced/not invoiced correctly

Question 2

What is control objectives (despatched)

Answer 2

Ensure that all goods despatched are correctly invoiced

Question 3

What is control (despatched) (GDN)

Answer 3

Invoices should be sequentially numbered and generated using information on the GDNs

Question 4

What is control (despatched) (credit)

Answer 4

All invoices should be authorised and details agreed to price lists/credit terms

Question 5

Tests of controls (Despatched) (Match)

Answer 5

Match a sample of GDNs with corresponding invoice

Question 6

Tests of controls (Despatched) (Perform)

Answer 6

Perform a sequence check of invoices to ensure all invoices are recorded

Question 7

Tests of controls (Despatched) (Compare)

Answer 7

Compare a sample of invoices with authorised price list and credit terms to ensure they are accurate