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    Sample Audit Findings

    Uploaded by

    Raul Malanog
    The document summarizes sales reports from multiple sales centers of Pryce Gases, Inc. for November 29-30, 2019 and December 1, 2019. It notes cash sales, payments, and inventories for each date and location. Minor discrepancies were found and attributed to errors. Overall, accounting functions were performed correctly and no major weaknesses were identified across the sales centers.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Sample Audit Findings

    Uploaded by

    Raul Malanog
    42 views4 pages
    The document summarizes sales reports from multiple sales centers of Pryce Gases, Inc. for November 29-30, 2019 and December 1, 2019. It notes cash sales, payments, and inventories for each date and location. Minor discrepancies were found and attributed to errors. Overall, accounting functions were performed correctly and no major weaknesses were identified across the sales centers.

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    Sample Audit findings

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    The document summarizes sales reports from multiple sales centers of Pryce Gases, Inc. for November 29-30, 2019 and December 1, 2019. It notes cash sales, payments, and inventories for each date and location. Minor discrepancies were found and attributed to errors. Overall, accounting functions were performed correctly and no major weaknesses were identified across the sales centers.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    42 views4 pages

    Sample Audit Findings

    Uploaded by

    Raul Malanog
    The document summarizes sales reports from multiple sales centers of Pryce Gases, Inc. for November 29-30, 2019 and December 1, 2019. It notes cash sales, payments, and inventories for each date and location. Minor discrepancies were found and attributed to errors. Overall, accounting functions were performed correctly and no major weaknesses were identified across the sales centers.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    PRYCE GASES, INCORPORATED

    ACCOMPLISHMENT REPORT - SALES CENTER


    12/1/2019

    Accounting Effects on
    Date of
    Sales Center Operator Functions General Statement of the Result of Visit Noted
    Visit
    Performed Weakness

    November 29, 2019 Gases cash sales & online


    RHIZ JOHN payments made versus the total accountability had a
    CANDUMAN 12/1/2019 No weakness
    ISOK discrepancy of P32,092.86. This is due to Cebu
    Doctors for offsetting.
    Accounted
    Gases Sales

    November 30, 2019 Gases Cash Sales & online


    payment made by Terracon deposited totalled the No weakness
    same with the accountability for the day.

    November 29,2019 LPG cash sales, online payment


    made by Jakendy's and CWGC and CA c/o Ma'am No weakness
    Marivic totalled the total accountability for the day.

    Accounted LPG
    Sales

    November 30, 2019 LPG Cash Sales and Checks


    No weakness
    received for the day had a discrepancy of P0.20

    Inventory on
    Accountable Forms are logged and commitment
    Accountable No weakness
    forms are followed religiously.
    Forms

    PCF 1: There is an overage of P2.50 No weakness

    PCF validation
    MARIVIC
    and Cash Safe
    MENDEZ
    Keeping
    PCF validation
    MARIVIC
    and Cash Safe
    MENDEZ
    Keeping
    PCF 2: There is no expenses incurred yet. The PCF is
    No weakness
    intact.

    PCF validation During the course of audit, there was an overage of


    QUILLA
    and Cash Safe P52.00. This is due to unclaimed change c/o Ms. No weakness
    TUMULAK
    Keeping Quilla.

    December 1, 2019 LPG Cash Sales versus Cash Sales


    ADONIS Accounted SC2 Invoices totalled the same amount. The cash
    CANDUMAN SC2 12/1/2019 No Weakness
    BINONGCAL Sales amounting to P51,450.00 is in the cash drop while
    the remainder is in the clerk's custody.

    Prepared by: Reviewed by:

    Raul P. Malanog Jonabeth Y. Torreon


    Plant Accounting Staff Accounting Supervisor

    Hi-za Pasumala
    Accounting Staff
    Recommendations / Remarks

    Invoices and amounts due for offsetting should be


    recorded for easy monitoring.

    Accuracy and precision of Cash Sales at all times.


    Always issue a Cash Invoice in every transaction.

    Cash should be accounted properly to avoid Cash


    Shortage/ Overage.

    Small discrepancies may be due to footing errors


    during invoicing.

    Recording and signing of commitment forms


    should be followed for tracking purposes.

    This minimal discrepancy is due to footing errors.


    Expenses should be supported by PCV and all other
    necessary receipts for validation.

    Segregation of funds should be done so that


    personal cash will not mix the company’s PCF.

    Safekeeping of Cash should be done at all times.

    Noted by:

    Frecil V. Ramis
    RFAS

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