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Không thực hiện kiểm kê tài sản cố định (đặc biệt đối với những công ty có tài sản di chuyển như máy tính xách tay).
AASC Đánh giá rủi ro & Kiểm soát nội bộ Tài sản cố định Trờng hợp Rủi ro Không thực hiện kiểm kê tài sản cố định (đặc biệt đối với những công ty có tài sản di chuyển nh máy tính xách tay). Các thông tin về đăng ký tài sản không đầy đủ nhằm tránh việc xác định các tài sản riêng biệt hoặc không đợc điều chỉnh trên sổ cái. Các khoản chi phí lãi vay, nhân công, chi phí chung không đợc vốn hoá. Chi phí tạo nên giá trị của toà nhà không đợc tập hợp đầy đủ Chi phí khấu hao đợc ớc tính theo thời gian sử dụng hữu ích hoặc trên cơ sở giá trị thu hồi của tài sản Chính sách khấu hao không đợc xem xét lại hàng năm. Có thay đổi trọng yếu về mức độ sửa chữa và bảo dỡng tài sản. There is inadequate insurance cover over fixed assets. There has been exceptional usage, technological change or other factors which may affect the useful life of the asset. Safeguard controls Physical protection of fixed assets against fire, theft and environment. Một số tài sản đã bị mất, bị điều chuyển hay thanh lý vẫn đợc phản ánh trên sổ kế toán. Một số tài sản riêng biệt không thể xác định riêng biệt hoặc không tồn tại. Lợi nhuận và giá trị của tài sản bị ghi nhận thấp hơn giá trị cần thiết. Giá trị của toà nhà bị trình bày sai Chi phí khấu hao bị trình bày sai Chính sách khấu hao không phù hợp với sự thay đổi của kỹ thuật, công nghệ . Số vốn tăng thêm đã bị ghi nhận là chi phí. Chi phí liên quan đến doanh thu trong kỳ đã bị vốn hoá. In the event of a disaster, the company is unable to replace the fixed assets lost or destroyed. A change in the useful life of the asset has not been reflected in the depreciation charge or in the residual value. 8/2005 AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé 8/2005 Trang 2 / 12 AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé INTANGIBLE FIXED ASSETS Condition Possible reasons/risks ♦ Substantial acquisition activity exists. ♦ The client has commenced valuing brand names and other intangibles in the balance sheet. ♦ The recoverability of intangible assets is not subject to regular evaluation. ♦ Large amounts of research and development expenditure are undertaken. ♦ Failure to identify intangible assets when the purchase method of accounting for business combinations is applied. ♦ There may be insufficient evidence to justify the valuation of the brand. ♦ Failure to recognise the need for or to account for write downs or to adjust the amortisation period. ♦ Research and development expenditure is incorrectly classified between pure and applied research and development resulting in the incorrect accounting treatment. INVESTMENTS Condition Possible reasons/risks ♦ Substantial investments in related parties exist. ♦ Investments are made in unlisted investments or non monetary assets (eg works of art) ♦ There are substantial investments in volatile foreign countries. ♦ Complex interrelated shareholdings exist making it difficult to establish the true value of the investment. ♦ Difficult to establish market value. ♦ The investment is subject to government restrictions which impair the value. 8/2005 Trang 3 / 12 AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé STOCK AND WORK IN PROGRESS Condition Possible reasons/risks ♦ Stock levels have been rising during the year or are considerably in excess of budget ♦ The client has stock purchase commitments in excess of future requirements. ♦ Lack of formal or regularly performed procedures to identify slow moving, obsolete or unsaleable items (eg no details of last stock usage, no aged report). ♦ Long-term contracts are considerably behind schedule. ♦ Lack of regular monitoring of long term contracts (eg no costs to completion calculations) ♦ Obsolete or unsaleable stock is not recognised. There has been a change in method of stock costing. ♦ Provision for slow moving or unsaleable stocks has been made ♦ Obsolete or slow moving stock is not recognised. ♦ Future large losses may arise on contracts and no provision has been made. ♦ No basis assess and provide for foreseeable losses on long-term contracts. 8/2005 Trang 4 / 12 AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé TRADE DEBTORS Condition Possible reasons/risks ♦ There is no credit control function or the function is inadequate in assessing credit worthiness, chasing up overdue debts or resolving disputes. ♦ The sales order system does not incorporate adequate checks over the current credit status of customers before accepting and processing orders. ♦ Statements are not sent regularly to all significant customers. ♦ The debtor’s ageing has deteriorated over the period showing an increase in the number and age of accounts overdue. ♦ Large numbers of credit notes are issued and/or there are a significant number of customer complaints concerning quality of product, accuracy of invoicing etc. ♦ Bad debt provisions are based on established formulae. ♦ Large sales immediately prior to period end (especially inter-company sales). ♦ Credit is given to customers who have a high risk of defaulting payment. High credit risk customers are not identified promptly leading to irrecoverable debts. Processing errors are not promptly identified. ♦ Credit is given to customers who have a high risk of defaulting payment. ♦ Processing errors are not identify promptly. ♦ Credit terms have been relaxed. Customers are unable to pay. Customers are taking advantage of long credit period before paying. Cash payments are being misappropriated. The ageing program does not work properly. ♦ Sales are overstated. The quality of goods sold is unacceptable, leading to returns. The correct goods were despatched (quantity and/or description) but at the wrong price (or discount). The wrong goods were despatched (quantity and/or description) when compared with either the order or the invoice. Cash receipts are being misappropriated. ♦ Changes in circumstances mean the formulae are no longer appropriate. ♦ Current period sales and profits are distorted. 8/2005 Trang 5 / 12 AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé CASH BALANCES Condition Possible reasons/risks ♦ There is a complex inter-company group structure ♦ There are large inter-company transfers of cash prior to the period end. ♦ Bank accounts are frequently changed. ♦ Levels of overdraft and other borrowings have risen. ♦ Significant funds are held in countries with restrictive currency regulations. ♦ The cash book is left open for a number of days after the balance sheet date. ♦ Complex inter-company financing agreements and guarantees are omitted from disclosure. ♦ The cash balance is improved through window dressing (especially where there are subsidiaries with non- coterminous year ends). ♦ Some bank accounts are not accounted for. The client is experiencing liquidity problem. ♦ Overdraft limits and loan covenants have been breached giving rise to going concern considerations. ♦ The funds are not recoverable. ♦ Cash receipts received after the period end are recorded before period end, misstating the period end cash position. 8/2005 Trang 6 / 12 AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé Segregation of duties Some examples of duties which should be performed by separate personnel where possible are: Duty Segregated from Opening mail (in the presence of at least one other employee). Credit controller Recording cash payments(e.g. by posting cash to detailed creditors’ ledger). Delivery of cash payments (e.g. by signing cheques). Preparing bank reconciliations. Recording cash receipts (e.g. by completing a cash diary or by directly paying into the bank). Posting cash receipts to the detailed debtors’ ledger. Delivery of cash payments. Preparing bank reconciliations. Reviewing bank reconciliation. TRADE CREDITORS Condition Possible reasons/risks ♦ There are a large number of unfilled orders. ♦ There is a high incidence of returns to suppliers. ♦ Goods have been received but have not been processed. ♦ Inadequate provision for returns has been made. ACCRUALS, DEFERRED INCOME AND OTHER CREDITORS Condition Possible reasons/risks ♦ There is a very tight reporting deadline. ♦ Invoices are received or sent directly to the relevant office or department for authorisation without prior recording. ♦ Accruals come to light after the accounts have been completed. ♦ Accruals are not recognised. 8/2005 Trang 7 / 12 AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé OTHER LIABILITIES, PROVISIONS AND CONTINGENCIES Condition Possible reasons/risks ♦ There is no formal evaluation by knowledgeable personnel of lease contract to determine the correct treatment as a finance or operating lease. ♦ There are a large number of leases. ♦ There are unusual sales/purchasing terms. ♦ The company has numerous borrowing/financing agreements. ♦ There are going-concern problems. ♦ Finance leases are classified as operating leases, resulting in broken covenants in debt agreements. ♦ Misclassification of finance leases as operating leases, resulting in broken covenants in debt agreements. ♦ Special conditions surround title to goods, resulting in unusual liabilities and contingencies. ♦ Covenants are broken, resulting in liabilities/contingencies which need to be disclosed. ♦ Contingencies arise and liabilities crystallise based on a weakened financial position. 8/2005 Trang 8 / 12 AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé SALES AND CASH RECEIPTS Condition Possible reasons/risks ♦ Sales are made on sale or return terms. ♦ The sale order system does not incorporate adequate checks over the current credit status of customers before accepting and processing orders ♦ A large number of credit notes are issued and/or there are a significant number of customer complaints concerning quality of product, accuracy of invoicing etc. ♦ A significant number of related party transactions exist. ♦ Significant stock is held by third parties. ♦ Sales ledger reconciliations are not regularly performed or there are numerous reconciling items which are not followed up. ♦ Confirmation replies are received via the client as photocopies or the postmark on the reply does not agreed with the recorded address. ♦ Round sum payments are posted or unallocated cash exist on the sales ledger. ♦ Numerous differences in the debtors’ circularisation. ♦ Large sales immediately prior to year end (especially intercompany sales). ♦ Sales are recognised in the wrong accounting period. ♦ Credit is given to customers who have a high risk of defaulting on payment. ♦ Sales are overstated. The quality of goods is unacceptable, leading to returns. The correct goods were despatched (quantity and/or description) but at the wrong price (or discount). The wrong goods were despatched (quantity and/or description) when compared with either the order or the invoice. Cash receipts are being misappropriated. ♦ Inadequate disclosure. Tax implications not recognised (where the transactions are made on terms other than arms length trading). ♦ Goods are despatched without being invoiced. ♦ Posting errors or omissions go undetected. ♦ Sales and/or customers accounts are fictitious. ♦ Cash receipts are misappropriate and concealed by incorrect posting to the accounts (teeming and lading). ♦ Possible misappropriation of cash. ♦ Sales and profits are overstated. 8/2005 Trang 9 / 12 AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé Segregation of duties Some examples of duties which should be performed by separate personnel where possible are: Duty Segregated from ♦ Posting cash received to debtors’ sub- ledger Despatching goods to customers Recording cash receipts Paying cash receipts into bank Reconciling debtors’ sub-ledger to control account Opening mail (in the presence of at least one other employee) Preparing bank reconciliations. ♦ Credit controller Preparing sales invoices Paying cash receipts into bank Posting credit notes to debtor’s sub- ledger Reviewing the control account reconciliation. Preparing the bank reconciliation Reviewing the bank reconciliation 8/2005 Trang 10 / 12 [...]... recorded at the wrong amount are not performed or they are numerous revealed reconciling items which are not followed up ♦ Payments are made to directors ♦ Goods and services are purchased from directors on terms other than arms length ♦ Existence of private or numerous bank ♦ Purchases are unrecorded accounts ♦ There are large long outstanding ♦ The company is experiencing liquidity problems creditors... company is experiencing liquidity problems creditors 8/2005 Trang 11 / 12 AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé Segregation of duties Some examples of duties which should be performed by separate personnel where possible are: Duty Segregated from ♦ Raising cheques from suppliers ♦ Cheque signatory ♦ Accepting goods from suppliers ♦ Matching purchases invoices to goods inward notes ♦ Reconciling suppliers’... or other companies use of the company ♦ Purchases are made from a small ♦ The purchasing department is number of suppliers accepting incentives to favour particular suppliers ♦ A large number of orders remain ♦ Purchases are not recorded or recorded in duplicate outstanding off errors and posting ♦ Statements are not received or not ♦ Cut errors/omissions are not recognised reconciled for the major... Reconciling the creditor’s sub ledger ♦ Authorisation of the reconciliations to the control account ♦ Recording cash payments (e.g by ♦ Delivery of cash payments (e.g by posting cash to the detailed creditor’s signing cheques) ledger) ♦ Delivery of cash payments ♦ Preparing the bank reconciliation ♦ Raising orders ♦ Accepting goods from the supplier 8/2005 Trang 12 / 12 ...AASC §¸nh gi¸ rñi ro & KiÓm so¸t néi bé PURCHASES AND CASH PAYMENTS Condition Possible reasons/risks ♦ Payments are made on the basis of ♦ Duplicate payments are made to photocopied invoices suppliers The terms of the original . useful life of the asset. Safeguard controls Physical protection of fixed assets against fire, theft and environment. Một số tài sản đã bị mất, bị điều chuyển. AASC Đánh giá rủi ro & Kiểm soát nội bộ Tài sản cố định Trờng hợp Rủi ro Không thực hiện kiểm kê tài sản cố định (đặc