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Tugas Auditing 1 Pertanyaan Dan Soal Diskusi No 14-30 Sampai 14-32 14-30 (Objective 14-5) You Have Been Asked by The Board of Trustees of A Local Church

The document discusses internal controls for collections made at weekly church services and record keeping for member pledges and contributions. It identifies several deficiencies, including a lack of segregation of duties among collection counters and record keepers, inadequate documentation and verification of member contributions, and lack of authorization for automatic payment options. Recommendations are made to improve controls over collections, contributions recording, and payments.

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Husnul Khatimah
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345 views

Tugas Auditing 1 Pertanyaan Dan Soal Diskusi No 14-30 Sampai 14-32 14-30 (Objective 14-5) You Have Been Asked by The Board of Trustees of A Local Church

The document discusses internal controls for collections made at weekly church services and record keeping for member pledges and contributions. It identifies several deficiencies, including a lack of segregation of duties among collection counters and record keepers, inadequate documentation and verification of member contributions, and lack of authorization for automatic payment options. Recommendations are made to improve controls over collections, contributions recording, and payments.

Uploaded by

Husnul Khatimah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Kelompok 5 – 2 AC A

 Husnul Khatimah (195154015)


 Naufal Rafif R (195154020)

TUGAS AUDITING 1
Pertanyaan dan Soal Diskusi No 14-30 sampai 14-32

14-30 (Objective 14-5) You have been asked by the board of trustees of a local church
to review its accounting procedures. As part of this review you have prepared the
following comments about the collections made at weekly services and record keeping
for members’pledges and contributions:

1. The church’s board of trustees has delegated responsibility for financial


management and audit of the financial records to the finance committee. This
group prepares the annual budget and approves major cash disbursements but is
not involved in collections or record keeping. No audit has been considered
necessary in recent years because the same trusted employee has kept church
records and served as financial secretary for 15 years.
2. The collection at the weekly service is taken by a team of ushers. The head usher
counts the collection in the church office after each service. She then places the
collection and a notation of the amount in the church safe. The next morning, the
financial secretary opens the safe and recounts the collection. He withholds about
$100 to meet cash expenditures during the coming week and deposits the
remainder intact. To facilitate the deposit, members who contribute by check are
asked to enter “Cash” on the payee line.
3. At their request, a few members are furnished prenumbered predated envelopes in
which to insert their weekly contributions. The head usher removes the cash from
the envelopes to be counted with the loose cash included in the collection and
discards the envelopes. No record is maintained of issuance or return of the
envelopes, and the envelope system is not encouraged.
4. Each member is asked to prepare a contribution pledge card annually. The pledge
is regarded as a moral commitment by the member to contribute a stated weekly
amount. Some members have inquired about having weekly contributions
automatically withdrawn from their bank account or charged to their credit card,
but the church has not established procedures that would allow payments other
than by cash or check at weekly services. Based on the amounts shown on the
pledge cards, the financial secretary furnishes a letter to members, upon request,
to support the tax deductibility of their contributions.
Identify the deficiencies and recommend improvements in procedures for collection
made at weekly services and record keeping for members’ pledges and contributions.
Use the methodology for identifying deficiencies discussed in Chapter 10. Organize
your answer sheets as follows.

14-31 (Objectives 14-3, 14-5) Items 1 through 10 present various internal control
strengths or internal control deficiencies.

1. Credit is granted by a credit department.


2. Once shipment occurs and is recorded in the sales journal, all shipping documents
are marked “recorded” by the accounting staff.
3. Sales returns are presented to a sales department clerk who prepares a written,
prenumbered receiving report.
4. Cash receipts received in the mail are received by a secretary with no
recordkeeping responsibility.
5. Cash receipts received in the mail are forwarded unopened with remittance advices
to accounting.
6. The cash receipts journal is prepared by the treasurer’s department.
7. Cash is deposited weekly.
8. Statements are sent monthly to customers.
9. Write-offs of accounts receivable are approved by the controller.
10. The bank reconciliation is prepared by individuals independent of cash receipts
recordkeeping.
a. For each of the preceding 1–10 items, indicate whether the item represents an:
A. Internal control strength for the sales and collection cycle.
B. Internal control deficiency for the sales and collection cycle.
b. For each item that you answered (A), indicate the transaction-related audit
objective(s) to which the control relates.
c. For each item that you answered (B), indicate the nature of the deficiency.

14-32 (Objective 14-3) YourTeam.com is an online retailer of college and professional


sports team memorabilia, such as hats, shirts, pennants and other sports logo products.
Consumers select the college or professional team from a pull-down menu on the
company’s Web site. For each listed team, the Web site provides a product description,
picture, and price for all products sold online. Customers click on the product number
of the items they wish to purchase. The following are internal controls YourTeam.com
has established for its online sales:

1. Only products shown on the Web site can be purchased online. Other company
products not shown on the Web site listing are unavailable for online sale.
2. The online sales system is linked to the perpetual inventory system that verifies
quantities on hand before processing the sale.
3. Before the sale is authorized, YourTeam.com obtains credit card authorization
codes electronically from the credit card agency.
4. Online sales are rejected if the customer’s shipping address does not match the
credit card’s billing address.
5. Before the sale is finalized, the online screen shows the product name, description,
unit price, and total sales price for the online transaction. Customers must click on
the Accept or Reject sales buttons to indicate approval or rejection of the online
sale.
6. Once customers approve the online sale, the online sales system generates a
Pending Sales file, which is an online data file that is used by warehouse personnel
to process shipments. Online sales are not recorded in the sales journal until
warehouse personnel enter the bill of lading number and date of shipment into the
Pending Sales data file.
a. For each control, identify the transaction-related audit objective(s) being fulfilled
if each control is in effect.
b. For each control, describe potential financial misstatements that could occur if the
control was not present.

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