Today, while performing the account receivable aging test for Benue Perdana, my senior instructed me to follow up on the Safetyware CAATs documentation since the company is a publicly listed entity and the auditor might require additional time to re our report. To meet the deadline, it was crucial to obtain the documentation as soon as possible. I promptly contacted the person in charge and was informed that they have already instructed their staff to prepare the documentation, which is expected to be delivered to us by the end of the week.
After that, I resumed my work on the Benue Perdana account and focused on the account receivable aging test. The client provided me with a salary listing to run the payroll test, but upon conducting the test, I noticed a significant variance in the February salary payments. Many staff members had not received their salary payments for the month of February, causing the variance to increase. I brought this issue to the attention of the relevant person in charge, who promptly provided me with an amended salary listing. I then repeated the test using the updated information.
Main things that have learnt
To learn how to follow up with clients on the requested document in a polite way.
To learn how to inquire clients when variances are found on the CAATs test.
Comment/idea/opinion
N/A
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