AUDIT OF OTHER INCOME
- Scrutinize the entries in the general ledger and general journal for any other income or other receivables recorded thereto.
- Test check entries in intercompany accounts to determine whether shifting of income or management fees may have been made and charged to affiliates.
- Investigate suspense accounts and unusual liability accounts, such as due to affiliates/due to stockholders and other payables to uncover possible income not recorded in the income accounts.
Reference: RAMO 1-2000