Icq Collection

Name of Agency ______________________________
Address ______________________________
Audit Period ______________________________
INTERNAL CONTROL QUESTIONNAIRE
This questionnaire is so worded that an affirmative answer will indicate soundness of the situation
covered by the question. The answers should indicate how things are done and not how they are
supposed to be done.
No. Control Activities YES NO REMARKS

SCW CC
A. General Information
1 Is the accountable officer appointed or designated as such?
2 Is the accountable officer given instructions regarding his/her
duties and responsibilities?
3 Is the employee handling cash adequately bonded? If so, how
much? ______________
4 Does he have a signature and handwriting specimen card?
5 Has he submitted his photographs to COA?
6 Does the accountable officer keep a file of COA regulations and
other existing rules pertaining to his/her work?
7 Are the office properly enclosed and the Cashier amply
protected against intrusion by unauthorized persons?
8 Is the accountable officer or other employee handling cash
provided with safe?
9 Is the combination of the safe changed whenever there is a
change of custodian?
10 Are duplicate combinations of the accountable officer’s safe on
file with an authorized officer?
11 Does the AO refrain from acting as Cashier or Treasurer of
savings and loan association, etc. at the same time?
12 Are the employees of the Cashier's Office denied access to, or
responsibility over accounting records, especially those related
to cash?
13 Is access to and responsibility for the fund vested in one person?
14 Does the organization structure provide a clear-cut separation of
cashiering function from accounting function?
15 Does the custodian of the fund have no access to-
a. Cash receipts?
b. General accounting records?
16 Does he avoid access to or responsibility over the accounting
records, related to cash (such as subsidiary ledger of accounts
receivables)?
17 If custodian of other funds, are they segregated and accounted
for separately?
18 Are surprise cash examinations conducted frequently by internal
and external auditors?
19 Does he keep a cashbook?
20 Are transactions recorded daily?
21 Is the cashbook balance reconciled with his cash on hand at the
close of each day?
22 Are cashbook balances reconciled with the subsidiary ledgers at
least once every quarter?
23 Are accounting records up-to-date?
24 Are subsidiary records maintained for each accountable officer?
25 Are both the totals and details of bank authenticated duplicate
deposit slips matched by the accounting department against the
corresponding official receipts?
26 Are monthly reports of accountability for accountable forms
prepared and submitted?
27 Are unused official receipts and other accountable forms
SCW CC
properly controlled as to ordering, storing and issuing, and are
adequate records kept of them?
B. Collection
1 Are official receipt booklets used?
2 Are the booklets issued in numerical sequence?
3 Are the official receipts pre-numbered?
4 Are official receipts issued for every receipt of payment?
5 Are official receipts issued in numerical sequence?
6 Are official receipts promptly issued for collections received?
7 Is the form of payment indicated in the receipts?
8 Is the numerical sequence of issued officials receipts and
booklets checked by the accounting department?
9 Is a register of forms maintained? If so, is it kept up-to- date?
10 Are unused booklets physically safeguarded? State how?
11 Is it the practice of the collecting officer not to accept post-dated
checks in payment of charges or fees?
12 Is the cashing of checks from collections prohibited? If not:
a. Is the prior approval of authorized person required before a
check is cashed?
b. Are such checks deposited promptly?
13 Does the collecting officer refrain from using the collections for
paying obligations of whatsoever?
14 Are reports of collections submitted at the end of the month?
15 Is the cashbook balance compared daily with the cash on hand?
16 Are collections deposited intact and as frequently as required by
regulations?
17 Is the person making deposit escorted by armed guards and
provided with transportation equipment?
18 Are all checks endorsed for deposit and deposited in appropriate
banks?
19 Are such checks deposited promptly?
20 Are items of deposit subsequently dishonored by the depository
bank promptly adjusted in the collecting officer's records?
21 Are totals of bank-authenticated deposit slips compared with the
debit to respective bank accounts in the book of original entry?
22 Are acknowledged deposits or deposits in transit invariably
cleared the following months?
23 Are collections and deposits recorded daily in the cash book?
24 Is reconciliation made quarterly of the collecting officer's book
balance and the accounting subsidiary ledger balance?
25 Is the collecting officer closely supervised by a responsible
officer of the agency?
By mail
26 Is the mail opened by an employee who is independent of either
the Cashier's Office or the Accounting Office?
27 Are mail remittances recorded or listed by the person opening
the mails? If so, is the record or list given to someone other than
the collecting officer for follow up to see that all mail
remittances have been receipted for and deposited?
28 Is the foregoing information considered adequate as basis for
our evaluation of internal auditing procedures, accounting
controls or other circumstances that mitigate any weaknesses
indicated above, or in that there are no other circumstances that
impair any controls?
29 List down any additional controls and/or weaknesses not
covered by the foregoing questions and/or answers?
Foreign currency
30 Are receipts of foreign currencies and checks authorized?
31 Are only authorized foreign currencies and checks accepted for
payment?
32 Are the kind, quantity, serial numbers and amount of foreign
SCW CC
currencies and checks indicated in the receipts and deposit slips?
33 Are control mechanisms in place to prevent receipt of
counterfeit foreign currencies and checks?

Icq Collection

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Name of Agency ______________________________

INTERNAL CONTROL QUESTIONNAIRE

No. Control Activities YES NO REMARKS

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