Audit of accounts receivable Auditoría de la cuenta por cobrar

Abstract

The purpose of the present study is to analyse the impact of the audit on accounts receivable in the financial statements by conducting a quantitative investigation, in order to obtain information that allows to identify and understand the internal processes of the companies, with descriptive design and thus to collect sufficient information of the accounting management of the accounts receivable and applicable audit procedures, by searching for information in policy documents, databases, journals and books. It is obtained as evidence and is able to identify that the application of the integrated internal control framework COSO 3 allows and contributes to the identification and recognition of shortcomings in the internal control system, which contribute little to the good fulfillment of goals or objectives set by the administration. In turn, audit procedures are defined that allow the verification of bad debtors, at the same time a correct management of credit and collection; determining whether accounts receivable exceed the agreed deadline and their maturity in number of days, if the latter is very high they should be given appropriate accounting treatment such as portfolio impairment; the accounts receivable reflected in the financial statements have a significant impact as they constitute a percentage value of the value of the entity’s total assets, in conclusion accounts receivable influence liquidity capacity; and if these are not managed efficiently they could cause inconvenience in the future which will affect the operational effectiveness that is, the fulfillment of goals and objectives.