RESPONSIBILITIES:
Conduct the annual audit by completing the following steps:
- Obtain or prepare a comparative summary of period-end cash balances and perform the following:
- Check the summary for mathematical accuracy
- Trace totals to general ledger and previous audit’s work papers to assure all accounts are included - Obtain bank reconciliation for all applicable accounts and perform the following:
- Test the mathematical accuracy of reconciliation
- Trace balances to the general ledger and summary in previous step
- Scan reconciliation for unusual reconciling items
- Trace outstanding items to subsequent month bank statements - Obtain a detail listing of cash disbursements and perform the following:
- Scan all disbursements for any unusual payments
- Verify a sample of payments to supporting documentation - Obtain year ending income statement (I/S) and perform the following:
- Prepare a recap of prepaid card revenue and agree to I/S
- Review prepaid card records to attendance sheets for usage and forfeitures.
- Recap the lunch revenue per attendance sheets and agree amounts to I/S
- Review accounts receivable records and agree amounts to attendance sheets and I/S - Review records for seminar and agree revenue and expense amounts to I/S
- Review prior year Statement and Recommendations note current status on the report
- Prepare current year Statement and Recommendations
- Submit Statement and Recommendations to the Chapter President no later than August 30th.
- Maintain a file of pertinent records and correspondence, passing it on to successor at the conclusion of the Chapter year.