Making sure employees don’t both make adjusting entries and prepare statements

Making sure employees don’t record Accounts Receivable

Making sure employees don’t bill customers

Making sure employees don’t deposit cash

Expenditure cycle

Investment cycle

Cash cycle

Inventory cycle

Material to the financial statements

Smaller than expected

Older than the prior year

Subject to valuation estimates

Management would check the vendor account number

Management would check the vendor address

Management would review terms of sale

Management would ensure vendor has an active tax ID Number

All receivables are collected

Any receivable not collected is evaluated subsequent to year end

Receivables are tested on an interim basis

none of the above

Existence

Accuracy

Classification

Cutoff