Audit library / 10 POS and card settlements
POS and Card Settlements Audit Kit
A complete, ready-to-use audit plan for card sales, bank settlements, merchant fees, refunds and chargebacks. 12 procedures in 6 phases, each showing what to do, the assertion, the risk and the evidence to obtain.
- Step-by-step guide on how to use the plan
- 12 audit procedures, from planning to sign-off
- Covers settlement reconciliation, refunds, voids and chargebacks, batch closing and cut-off and ownership of receipts
- Status and result dropdowns with an automatic progress tracker
- Fillable PDF version you can complete on screen
- Full English and Arabic versions (4 files)
Preview the checklist
Here are the first procedures from the kit. Buy the kit to unlock everything.
| Ref | Procedure | Assertion | Status | Result |
|---|---|---|---|---|
| A. Planning and terminals | ||||
| A1 | Understand card acceptance: terminals and locations, acquiring banks, card schemes, settlement timing and merchant fee rates.Risk: Settlement and fee risks not identified. | Controls | Not started ▾ | |
| A2 | Agree the list of terminals in the system to the acquirer's list; identify inactive or unknown terminals.Risk: Sales processed on terminals outside company control. | Existence | Not started ▾ | |
| B. Settlement reconciliation | ||||
| B1 | Reconcile card sales per the POS or ERP system to settlements credited by the bank for the period, allowing for settlement delays.Risk: Card sales not received in the bank. | Completeness | Not started ▾ | |
| B2 | Recalculate merchant fees deducted on a sample of settlements and compare with agreed rates.Risk: Overcharged fees not detected. | Accuracy & valuation | Not started ▾ | |
| B3 | Investigate sales not settled and settlements without matching sales; follow up with the acquirer.Risk: Missing settlements or misallocated credits. | Existence | Not started ▾ | |
| C. Refunds, voids and chargebacks | ||||
| C1 | Review refunds and voids processed on terminals: approval, link to an original sale and staff who processed them.Risk: Fake refunds to personal cards. | Fraud | Not started ▾ | |
| C2 | Identify refunds to the same card number repeatedly, refunds without matching sales, and refunds outside opening hours.Risk: Refund fraud by staff. | Fraud | Not started ▾ | |
| C3 | Review chargebacks: reasons, amounts recovered or written off, and repeat issues by terminal or staff member.Risk: Losses from chargebacks not recorded. | Accuracy & valuation | Not started ▾ | |
4 more procedures are inside the full kit
Plus the step-by-step guide, dropdowns, progress tracker and the fillable PDF.
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