Accounting of transaction in the general ledger
The audit procedures for this aspect include:
Checking whether there is a direct hands-off between front end system and the accounting system for passing accounting entries in the general ledger.
Checking whether correct accounting entries are recorded in the general ledger and the back office regularly reviews the accounting entries passed in the general ledger.
Checking whether the treasury department generates a daily P&L (deskwise) and same has been reviewed and compared to the general ledger to identify any mismatches.