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Hi sir, for june 2012 exam question 1a) the deficiency regarding credit limits being set by sales ledger clerks. For control and test of control can i state the following ?
Control : For all new customers, a senior member of the sales department such as the sales manager should complete a credit application that should be checked through a credit agency.
Test of control : inspect a sample of processed credit applications from the credit agency and follow through the agreed credit limits in the system.
Once these credit limits have been authorised by the sales director, it should be entered into the system by a credit controller.
*Hi sir, for june 2012 exam question 1a) the deficiency regarding credit limits being set by sales ledger clerks. For control and test of control can i state the following ?
Control : For all new customers, a senior member of the sales department such as the sales manager should complete a credit application that should be checked through a credit agency.
Once these credit limits have been authorised by the sales director, it should be entered into the system by a credit controller.
Test of control : inspect a sample of processed credit applications from the credit agency and follow through the agreed credit limits in the system.
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