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.