of any enterprise have to be controlled in order to avoid any mistakes and misstatements in the financial statements of the company, because the results of such mistakes can be wrong decisions of users of financial statements and, as a consequence of such errors and distortions can lead to multipleincreasing losses.Since the calculations enterprises with contractors are an essential part of the firm, carried out an audit of settlement operations.
First, let's understand who and what the enterprise can be calculated.Counterparties firms can be divided into two global groups: debtors and creditors.Debtors - all those who have something should be firm, be it money, goods, services or any other value, and lenders - all those to whom it owes a company.An audit involves the verification of payment transactions as a settlement with one and other.
What procedure involves this kind of test?Audit settlement transactions involves the following activities.
First of all, you need to install the reality of the commitment of the company to anyone, either as debtors to the firm.For this there are different procedures, such as checking the primary documents, bank statements, and in special cases - to send special letters to counterparties.So, if you deposit transactions audited, the auditor may send the bank that holds the deposit, a letter with a request to clarify the amount on deposit amounts of interest payments and their periodicity.
next step is to assess the accuracy of the display in the accounting records of all aspects of payment transactions.This is especially important if the operation involved objects are not owned by the company, that is, if the audited rental operations.In this case, it is important to note, are not recorded on the balance sheet if the lease objects that are, in fact, he does not belong.It is also important to check that all lease payments correctly displayed in the document, including important to ensure that they are properly transferred to the production costs, but only if the object is involved in the production process.In addition, conduct an audit of payment transactions on lease, it must be remembered that depreciation is charged by the lessor and reduces its gross income, so depreciating objects leased, is not necessary.In case of violation of this rule, it is necessary to make corrective surgery, however, is fraught with follow-up questions from the tax and other inspection bodies.
audit of payment transactions takes usually a long time compared to other types of inspections.The reason for this is the variety and large number of calculations that are carried out both with customers and with suppliers.Moreover, after the audit of payment transactions is often a need for other types of checks, for example, relating to inventory or fixed assets.This is due to the fact that if there were violations in the operations with suppliers or customers of the enterprise, it is logical to assume that has been affected not only the financial aspect, but there are also discrepancies in the real presence of those or other objects in the enterprise.
That is why the audit of payment transactions is one of the most important types of audits of the financial condition of the company.Qualitative conduct this type of testing is the key to the financial health of the company and his lack of problems with the control authorities in future periods.
