Take control of your organization’s financial health with this Accounts Receivable Internal Controls Questionnaire, a tool designed for compliance and driving real business value. By guiding management through a self-assessment of critical receivable processes, this tool enables teams to proactively manage risk, optimize cash flow and enhance customer satisfaction. It goes beyond simply checking regulatory boxes, helping organizations anticipate issues, streamline operations, reduce costs and identify opportunities for meaningful improvement.

This tool includes two samples. Sample 1 leads users through a detailed self-evaluation of controls across all key accounts receivable activities, from system changes and responsibility assignments to process adequacy, documentation and reconciliation practices, requiring explanations for any gaps and an honest assessment of control frequency. Sample 2 delves deeper into the specific mechanics of the receivables cycle, including customer database access, credit management, documentation standards and ongoing review procedures, combining yes/no assessments with narrative responses and culminating in a personal evaluation of the overall control environment.

Sample questions include:

• What metrics do you review or what procedures do you perform to assess the adequacy of the controls relative to this process?
• Are invoices reviewed for accuracy (rates, hours, address, etc.) prior to being sent to the customer? If so, by whom?
• How many accounts per year require collections activity, including collection letters/notices, phone calls, etc.?