Modules»Accounts Payable»Sarbanes-Oxley Compliance - A/…
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Last modified on 7/8/2015 4:18 PM by User.

Sarbanes-Oxley Compliance - A/P

Inventory: INV 4: Inventory GL account is reconciled monthly with the sub-ledger monthly.  Provide copies of the Inventory account reconciliation for the months selected. Examine the reconciliation to be sure it agrees to the Inventory sub-ledger and G/L. On Website: see document InventoryControl/Reports Month End Analysis
  INV 6: Approve all inventory adjustment J/E and supporting documentation. Verify the J/E created to adjust the G/L inventory to the actual physical count. Print: G/L Trial Balance for Inventory account using Transaction ID.  Module 4/Task 9
AP/Purchasing: AP 1: Restricted access to Vendor Master File Provide a listing of all personnel with access to the vendor master file.    
  AP 1: Additions to the Vendor Master File. Provide a listing of all new additions to the Vendor Master File for a specified period.   Print: Vendor Master file by Starting/Ending Entry Date. Module 3/Task 17/Sub-task 4
  AP 10: Invoices without a supporting P.O. Provide a list of all processed invoices not supported by a PO.   
  AP 11: Open Items Not Invoiced accrual J/E A copy of the Open Items Not Invoiced J/E with supporting documentation. Print: Received Items (no invoice) and Shipped-back Items (no credit)  Module 7/Tasks 22 & 23/Sub-task 4.
  AP 13: Packet of Invoice, Purchase Order and Receiving Report all match. 1. Provide a list of all AP invoices paid supported by Purchase Orders.
2. A copy of the Invoice, Purchase Order and Receiving Report.
  AP 18: A/P sub ledger is reconciled monthly to the G/L. Provide A/P reconciliation. On Website: see document Month End/Year End / AP Monthly Closing, Procedures and Checklist
  AP 19: Personnel with access to A/P system are not authorized to sign checks. Provide list of personnel that have access to the A/P system & provide signature card for A/P checking account  
  AP 25:  Approval for AP Voucher packages 1. Provide a list of checks disbursed for a specified time
2. A copy of the voucher packages for the checks selected. 
Print: Voucher History by Check.  Module 3/Task 14
  AP 26:  A list of checks larger than $10,000 A list of all disbursed AP checks with a value greater than $10,000.    
  AP 31: Restricted access to A/P Provide a list of all personnenl with access to the A/P menu.  
A/R AR 1: Additions to the Customer Master file. List of all new additions to the Customer Master file.   Print:  Customer Master file by Entry Date.  Module 2/Task 17/Sub-task 4
  AR 3: Changes in pricing set-up require approval from the General Manager or Branch Manager. Provide a list of all subsequent changes to pricing set-ups.  Print:  A/R Customer Audit for basic price level changes.
  AR 10: Access is restricted to the billing module with a password Provide a list of all users who have access to the billing module.   
  AR 11: Billing exception reports Provide a copy of the billing exceptions report. Print: Item Price Change Audit by Invoice Number and Item Number.  Found in Module 6/Task 16/report IHSCHG
  AR 14: Invoices reflect the work performed. Provide a list of all invoices processed during a specified period.  Provide copies of invoice and related Work Order paperwork. Print:  Sales History report by date.  Module 2/ Task 19/ Sub-task 4
  AR 18: Invoices processed with price exceptions in excess of $1,500 List and copy of all invoices processed with price exceptions in excess of $1,500  
  AR 20: FM invoices with supporting documentation. List and copy of "FM" invoices, with supporting documentation. Providing FM's are setup as divisions/locations or in a 'range' of customer number, print:  Sales History report.  Module 2/Task 19/Sub-task 4.
  AR 21: FM Invoices and billing reconciliation Copy of the FM billing reconciliation and related invoices with supporting documentation.  
  AR 23: The  General Manager and CEO approve all FM contracts. List of new FM contracts during a specified period.   If FMs set up as customer #, print: Customer Master file by Entry Date & Customer Number. Module 2/Task 17/Sub-task 4 
  AR 27: Cash Receipts reconciled daily. Cash receipts reconciliation with supporting documentation Print:  Cash History report by date.  Module 2/Task 20/Sub-task 4  or Sales History report by Document Type #2 (Cash Receipts) by Date  Modle 2/Task 19/Sub-task 4
  AR 29: AR Adjustments Provide a list of all A/R adjustments for a selected period and provide copies of the AR adjustments Print:  Cash History report by G/L account.   Module 2/Task20/Sub-task 4.
  AR 30: Past due receivables are reviewed to determine the adequacy of the reserve balance. Provide list of past due receivables Print: Past Due Customer Analysis.  Module 2/Task 9/Sub-task 6
  AR 31: Approval for A/R write-offs  Provide a list of A/R write-offs.    
Cash Management CHS 1: Bank reconciliations are reconciled monthly. Provide a copy of the bank reconciliations with supporting documentation.    
  CHS 2: Check run accuracy is reviewed Checks are pre-numbered.  Entire sequence of checks is accounted for, including voids, rejected, missing checks.  No check numbers fall outside a specified range or changes or breaks in sequence wouthout documentation. Print: Check History. Module 3/Task 20/sub-task 4.
Fixed Assets FA 2:  List of Fixed Assets Provide a list of Fixed Assets processed during a specified period.   Print: Trial Balance for Fixed Asset accounts. Module 4/Task 9/ Sub-task 4
Month Closing: MGC 2: Chart of Accounts access is adequately restricted and any changes to the chart are reviewed by CEO Provide a listing of all personnel with access to Chart of Accounts.  Provide a listing of all changes to the Chart of Accounts.  Controller to provide a copy of the changes.    
   MGC 5: Journal entries are accurate, approved by Controller and someone other than Controller.  Provide a listing of all J/E posted during the selected period. Provide copies of the J/E with supporting documentation. Postings from AR, AP, GL.  Interface reports.
  MGC 8: Journal entrie Provide a month-end J/E checklist. Compare the checklist to the J/E to ensure all J/E were entered & posted.  
  MGC 15:  G/L posting access is restricted and has a password Provide a listing of all personnel who has the ability to post to the G/L.    
  MGC 16: Reconciliations are performed monthly and any variances are reconciled and explained. Provide account reconciliation.   
  MGC 17: The Controller and CEO sign the monthly closing checklist. Provide the monthly closing checklist.   
*Payroll PAY 2: List of New Employees A list of new hires for a specified time Print Employee Senority list by date range.  Module 1/Task 13/Sub-task 2
for companies using MV Software Payroll system PAY 2.1: Restricted access to Payroll Master file Provide a list of users who have access to the payroll system  
  PAY 2.1: Pay rate changes Provide a list of employees who have received pay increases during a specified period.  
  PAY 4: Timecards  Provide a list of timecards processed for payroll  
  PAY 7: Payroll registers are reviewed prior to distribution. Provide a copy of the payroll register for specified dates Postings from Payroll and Payroll History reports (module 1/Task 14)
  PAY 11: Payroll reconciliations are performed monthly   Provide the payroll account reconciliations for specified months.  
  PAY 11: 2. Accrued payroll  Accrual payroll and payroll related liabilities posted to the G/L Print Trial Balance for Payroll accounts.
  PAY 12: Vacation liability accrued Monthly J/E to adjust vacation liability