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Sundry Debtors and Loans
Sundry debtors and loans are not generally material assets of companies another than those companies whose business is to create loans. We shall consider two kinds of sundry loans and debtors:
a) Dealings along with others other than directors: The confirmation work will include:
i. Determining and testing, evaluating the systems of internal control. Exactly attention is to be paid to authorization.
ii. Getting a schedule of the debtors and testing it for completeness and accuracy.
iii. Getting certificates direct from the debtors concerned.
iv. Review of agreements and ensuring about the terms are being followed.
v. The debt may be secured whether case, the security is consideration and examined given to its value and reliability.
vi. The loan may be guaranteed, whether case the status of the guarantor must be examined.
vii. Where loans have been created to employees, they generally become bad whether the employee leaves before repayment is completed. Provisions for bad debts must be reviewed for adequacy.
Research and Development - Audit Process The past of business is littered along with cases of companies which have collapsed as a convulsion of over indulgence in discover and
Sundry Debtors and Loans Sundry debtors and loans are not generally material assets of companies another than those companies whose business is to create loans. We shall cons
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