Get documents about "Sample Balance Sheet for Recording Company - Excel
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Sample Balance Sheet for Recording Company document sample
Document Sample
Company (Name):
Fiscal Year End (Date): A total of 64 tests have been Contains detailed testing Links to the pre-populated test
designed to evaluate ALL KEY risks instructions, rather than generic sheets with fill-in fields for
Tested on (Date)/ tested by (Name):
based on best practices and the descriptions of the tests to be company-specific information.
Tested in (System):
Inventory Management - Audit Program for SAP R/3 - SAMPLE
Control Activity Control Control IT Nature Control Rating Query Testing Procedures: Testing Reference Conclusion Exception Details
Activity Type Nature IT Dependent/ High/ No For each control activity selected for testing, auditor needs to perform adequate testing procedures to gain Reference to Effective/ For ineffective controls
Preventive/ Manual/ Non IT- Medium/ reasonable assurance that controls operate effectively in accordance with established policies, procedures, and supporting evidence Ineffective
Detective Automated Dependent Low guidelines. The following testing procedures will assist auditors in performing tests of control for each control considered pertinent
activity.
Managing Inventory
Control Objective INV2: All adjustments to inventory prices or quantities are recorded. Adjustments to inventory prices or quantities are valid, recorded accurately, timely and in the appropriate period.
(Control Objective Assertion: [Balance Sheet] Inventory: Completeness, Validity, Recording, Cut-off & [Income Statement] Cost Of Sales: Completeness, Validity, Recording, Cut-off)
Control Objective Background: Incomplete, inaccurate, invalid or untimely recording of inventory quantity and pricing adjustments can lead to misstatement of inventory in the financial statements,
misappropriation of inventory, issuance of inappropriate pick and store instructions, giving erroneous information to customers and/or missing sales opportunities, making inappropriate selling pricing decisions.
INV2.05: Only authorized personnel Preventive Automated IT Dependent High 21 Perform the following procedures to produce a listing of users with access to open and close the material master Tab 12
have the ability to maintain: posting periods in SAP R/3 using transactions MMPV and MMRV:
• Material master posting periods. In addition to the written step-by-step
instructions, screen-prints from SAP will Execute transaction code SUIM
be provided to visually assist those new Proceed to the Users By Authorization Values screen via "User " -> "Users By Complex Selection Criteria " ->
to the system. "By Authorization Values "
AUTHORIZATION OBJECT 1:
Covers ALL principal inventory management • S_TCODE:
subprocesses: MMPV (Open and Close the Period for Materials Ledger) OR
• Managing Inventory MMRV (Allow Posting to Previous Period)
• Receiving and Storing
• Requisitioning Materials AUTHORIZATION OBJECT 2:
• Producing & Costing Inventory • M_MATE_PER:
• Handling Finished Products Activities (AKTPR): 01 (Create) OR 02 (Change) OR 50 (Move) OR 51 (Initialize)
• Shipping Finished Products Company Code (BUKRS): * (means SOME/ANY plants) or restrict based on the scope of the audit
• Maintaining Inventory Master File
Export results to the Tab referenced in the "Testing Ref." Column for further analysis. Review whether access is
appropriate for the users to have such access, based on their job responsibilities and established policies,
procedures, standards, and guidance. Compare the results of the test with the information obtained from the
interviews with the individuals responsible for the control activity. Investigate any discrepancies. Document your
conclusions.
22 Material master posting periods are administered within the inventory management module. The use of material N/A
master posting periods helps ensure that certain data is updated in the correct period, and goods movements (if needed, include
are always posted to the correct period. Material master periods are normally closed once a month at the reference to supporting
beginning of a new period. Once a period is closed, a new period is set up making it possible to perform goods evidence considered
movements with reference to the new period. pertinent)
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22 N/A
Control Activity Control Control IT Nature Control Rating Query Testing Procedures: Testing Reference
(if needed, include Conclusion Exception Details
Activity Type Nature IT Dependent/ High/ No For each control activity selected for testing, auditor needs to perform adequate testing procedures to gain Reference to supporting Effective/
reference to For ineffective controls
Preventive/ Manual/ Non IT- Medium/ reasonable assurance that controls operate effectively in accordance with established policies, procedures, and evidence considered Ineffective
supporting evidence
Detective Automated Dependent Low guidelines. The following testing procedures will assist auditors in performing tests of control for each control considered pertinent
pertinent)
activity.
Perform the following procedures to determine if SAP R/3 has been configured to control the postings to the
Managing Inventory previous periods:
• Execute transaction MMPV (Open and Close the Period for Materials Ledger)
Check the 'Allow Posting to the Previous Period' indicator
This indicator allows postings to previous periods (back posting)
- If set, postings to previous periods is allowed
- If not set, postings to previous periods is not allowed. However, it is set again
automatically during period closing, thus re-allowing postings to previous periods
If the organization does not want the indicator to be set automatically during period closing, the indicator
'Disallow back posting' should be set. Perform the following procedures to determine if the indicator 'Disallow
back posting' is set:
• Execute transaction MMRV (Allow Posting to Previous Period)
Check the 'Disallow back posting' indicator
Compare the settings observed during the tests outlined above with company policy and document your
conclusions.
• • • • • •
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Control Activity Control Control IT Nature Control Rating Query Testing Procedures: Testing Reference Conclusion Exception Details
Activity Type Nature IT Dependent/ High/ No For each control activity selected for testing, auditor needs to perform adequate testing procedures to gain Reference to Effective/ For ineffective controls
Preventive/ Manual/ Non IT- Medium/ reasonable assurance that controls operate effectively in accordance with established policies, procedures, and supporting evidence Ineffective
Detective Automated Dependent Low guidelines. The following testing procedures will assist auditors in performing tests of control for each control considered pertinent
activity.
*** THIS IS A SAMPLE, NOT A COMPLETE AUDIT PROGRAM ***
Managing Inventory
The complete audit program is available at http://soxmadeeasy.com/SAP_Inventory.html and contains 64 tests designed to help audit, risk and security professionals attain reasonable assurance that controls over
Inventory Management business cycle in SAP R/3 operate effectively and in accordance with management's intentions, including:
• Managing Inventory - controls to ensure that inventory is salable or usable and that adjustments to inventory prices or quantities are valid, recorded accurately, timely and in the appropriate period:
- Monitoring procedures for slow-turnover inventory (MC46, B5M, MC50, MC.B, etc.)
- System edits for financial documents (document type, posting keys, tolerance groups, etc.)
- Monitoring changes to inventory prices and quantities (CKMD, MB51, MM04, MB59, etc.)
- Access to maintain work centers in SAP R/3 (CR01, CR02, etc.)
- Access to maintain prices, price lists, & pricing conditions (VK11-VK14, V-41 - V-51, etc.)
- Access to input physical inventory counts (LI11/LI11N, LI12/LI12N, LI20, LI21, MI01-MI10, etc.)
- Access to maintain material master posting periods (MMPV, MMRV, etc.), and more.
• Receiving and Storing Raw Materials and Purchased Inventory - controls to ensure that recorded purchased inventory (including raw materials) represent materials acquired by the entity
and that purchased inventory/raw materials are recorded accurately, timely and in the appropriate period:
- Monitoring changes to goods received (MBSM, etc.)
- Access to input, change, or cancel goods received (MB01, MB0A, MBST, MB31, MB1C, etc.)
- Maintenance and monitoring of the Goods receipt/Invoice receipt (GR/IR) account (MR11, MB5S, etc.)
- Access to settle purchase orders using Evaluated Receipt Settlement (ERS) functionality (MRRS, MRRL), and more.
• Requisitioning Materials - controls to ensure that transfers of raw materials to production are recorded accurately and in the appropriate period:
- Access to maintain Bill of material (CS80, CS01, CS02, etc.)
- Monitoring inventory in transit (MB5T, etc.)
- Access to issue goods & post transfers between plants (MB1A, MB1B, MB11, MIGO, MIGO_GI, etc.), and more.
• Producing & Costing Inventory - controls to ensure that production costs are consistent with actual direct and indirect expenses associated with production, etc.:
- Monitoring costs associated with process and production orders (CK13, COR3, etc.), and more.
• Handling Finished Products - controls to ensure that finished goods are recorded completely and accurately in the appropriate period :
- SAP R/3 edits and validates input data for goods received (OMCJ, etc.)
- Reconciliation of inventory counts to the inventory records & to quantities recorded in the General
Ledger (RM07IMAT, RM07IINV, RM07IDOC, RM07IDIF, RM07ICDD, RM07MBST, etc.), and more.
• Shipping Finished Products - controls to ensure that shipments are recorded accurately, timely and in the appropriate period and the costs of shipped inventory are accurately recorded
and transferred from inventory to the cost of sales:
- Access to maintain sales orders, inquiries, quotations, contracts, scheduling agreements, delivery & billing documents (VA01, VA02, VA11, VA12, VA21, VA22, VA31, VA32, VA41, VA42, VL01,VL01N,
VL01NO, VL02, VL02N, VF01, VF02, VF11, FB01, etc.)
- Monitoring incomplete and blocked sales orders (V.02, VA05, V.00, V.15, V23, V.14, VFX3, etc.)
- Configuration of valuation areas, valuation classes, chart of accounts, assignment of the GL accounts, etc. (OMWM, OMWD, OX14, OX10, OX02, OBY6, OMSK, OMWB, FS03, etc.), and more.
• Maintaining Inventory Master File - controls to ensure that only valid changes are made to the inventory management master file:
- Access to maintain material master file (MM01, MM02, MM06, etc.)
- Segregation/separation of duties within SAP R/3 inventory functions
- Monitoring procedures to ensure accuracy, completeness, and validity of the material master data, and much more.
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Mitigating Controls Planned Remediation Procedures Planned Remediation Ref. to Post-
For ineffective controls For ineffective controls Remediation Status Remediation
Date Completed/ Testing Details
For ineffective In Progress If applicable
controls
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Mitigating Controls Planned Remediation Procedures Planned Remediation Ref. to Post-
For ineffective controls For ineffective controls Remediation Status Remediation
Date Completed/ Testing Details
For ineffective In Progress If applicable
controls
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Mitigating Controls Planned Remediation Procedures Planned Remediation Ref. to Post-
For ineffective controls For ineffective controls Remediation Status Remediation
Date Completed/ Testing Details
For ineffective In Progress If applicable
controls
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e06e4dc0-09a1-45b0-88a4-ba2e27460277.xls Tab 12
Users with access to open and close the material master posting periods in SAP R/3 using transactions MMPV and MMRV: Click to Return To The Audit Program
Count User ID User Name Locked? Valid From Valid Through User Type Access Appropriate Exceptions Comments/ Exception Detail
*Insert (Yes/No) *Exclude IDs that *Exclude D (System) and C as per the Job Noted?
additional *Exclude locked user IDs are past their (Communication) IDs (no end Responsibilities? (Yes/No)
rows as ("0" or "Blank" in this field validity date (no user access); leave A (Yes/No)
needed means that user ID is NOT access) (Dialog) and S (Service) IDs
locked) for analysis
1
2
3
4
5
Total 0 0 0
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