General Info
Bank confirms = banks
Solicitor confirms = lawfirms
AR confirms = ???
Customers / Debtors
Standard turnaround time for AR?
24 hrs
What are the 2 templates we need in Alteryx?
AR listing template & Customer details template
What is the document you insert onto the first page of the AR letter before you can send it out to Debtors / Customers?
Follow-up is done once responses are received.
TRUE or FALSE
FALSE
Name the PWC audit guide for External confirmations
PwC Audit Guide 6202.1.1
Which method in AVT should you put Y to if you were validating postal address on third party website?
Method 2
What is the number series for Invoice level confirmation?
101, 102, 103
What are 2 methods of sending confirmations and who is responsible in sending them?
Post (SH) & Email (SDC)
Three parts of CLT phase
Follow-up, Tracking, Verify
AR confirmations are sent to customers to obtain evidence over (Name at least three)
Completeness, Accuracy, Existence/Occurrence, Rights and obligations
Which method in AVT should you put Y to if you were able to validate via call?
Method 1
2 types of AR confirmations and differentiate them
Invoice level & Account level
In terms of sending out confirmations, what is the difference of AR with Bank confirmations?
Bank - before YE
AR - after YE
What are we trying to confirm during verification? Give 3
- If email address is valid
- If the person is authorised to sign off & complete the confirmation
- The balance
- If there are changes
List the three standard info needed in order for us to proceed with the call validation
Debtor name
Contact numbers
Email address
What note numbers in AVT would require SH's further advise/confirmation?
Note 3-5
PwC contact person and email we should put on Alteryx?
Confirmation Central Team
confirmation.central.team@au.pwc.com
Give 3 contacts that should be copied in the email when sending out
SH Contact, ET Contact, Client contact
Give 3 items you need to log for review with your QC
- AVT
- AR letters
- Verification forms
Name the three docs / info SH will provide to us upon initial assignment of WR
(1) AR listing
(2) Signed authorisation letter
(3) Provide email addresses of client, coach, ET, confirmation date
When calling the debtors/customers, what team would you look for to confirm the details we need?
Accounts Payable Team
Name the 3 dates needed in Alteryx
Date of letter, Confirmation date / YE date, Confirmation due date / Required by date
After sending out the Confirmations through Email, what should be done by SDC?
Update monitoring sheet and inform SH
List the 3 general verification rules
-If received via post, no need to verify
-If received via email/fax and was initially validated via call, no need to verify*
-If received via email/fax and was not initially validated via call, verify