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English to Czech translations [PRO]
Bus/Financial - Accounting | | English term or phrase: cut off testing | Cut Off Testing for all drop-shipments
As part of the XY Group, which is listed at the Stock Exchange and has to follow SOX rules, we have to be SOX compliant as well and must therefore perform the cut-off testing on a quarterly basis.
The cut-off testing gathers evidence that transactions are recorded in the period to which they refer.
The cut-off testing covers a period of 5 days before quarter-end and 5 days after.
All drop-shipments above 10.000 EUR must be tested. Documents that must be tested and filed are:
- sales invoice
- vendor confirmation for
o date of shipment
o date of right to use
o supplier invoice. |
| | | Selected response from:
  Zbynek Taborsky
Czech Republic
Local time: 15:44
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