FINANCIAL AUDIT IN COLLECTIONS DEPARTMENT: EVENTS THAT CAUSE THE INCONSISTENCY OF BALANCES

Abstract

The objective of this research was to determine the events that cause monetary inconsistencies in the accounting balances of accounts receivable from clients, and the analysis of its effects on the reliability of financial statements, taking as a study group 30 Ecuadorian companies audited in the fiscal year 2017, which through analysis of inconsistencies, obtained in working papers, we grouped the material events in this sample, the research is of descriptive-explicative type; developed risk matrix with the repetition of events and the impact of adjustments; applied statistical correlation, test of independence and homogeneity test causes type of inconsistencies of balances. The results show weaknesses of internal control; 1909 credit notes were approved without applying discounts, 561 unregistered collections, 104 invoice cancelled without registration, and 99 bills with more than 180 days without charge; These events accounted for USD 223.246,74; found risk level is considered low, and in a few cases it is average; There is statistical independence between events.