Audit Objective pr-22

Test for payments made on a weekend or holiday

Step 1

Holiday Dates

Using the main form, select the 'Holidays' function in order to quantify the extent to which transactions are found on federal holidays. Federal holidays are handled only for holidays in the United States or Canada. Determination of dates depends upon the date format being used. The system recognizes three date formats - mdy, dmy and ymd where m is the number of the month, d is the number of the day and y is the number of the year (either 2 or 4 digits). The country code must be specified in order to ascertain which dates are holidays, as they vary between countries. This technique can also be applied to identify circumvention of controls or unusual transactions.

There is a complete description of the procedure available for viewing.

Output from the process will be available in three formats:

1. As a report file (text format)
2. As a summary line description on the status bar.
3. As a chart to visualize how the number of transactions by holiday.

The Holiday report may be loaded into Excel for for further analysis or sorting.

Also, there is a separate process to determine determine if transactions on holidays differ significantly between accounts, regions, locations, stores or other variable. There is a complete description of this procedure.



Step 2

Week Days

Using the main form, select the 'Weekdays' function in order to quantify the extent to which transactions are found on weekends. Determination of dates depends upon the date format being used. The system recognizes three date formats - mdy, dmy and ymd where m is the number of the month, d is the number of the day and y is the number of the year (either 2 or 4 digits). This technique can also be applied to identify circumvention of controls or unusual transactions.

There is a complete description of the procedure available for viewing.

Output from the process will be available in three formats:

1. As a report file (text format)
2. As a summary line description on the status bar.
3. As a chart to visualize how the number of transactions by day of week.

The Weekday report may be loaded into Excel for for further analysis or sorting.

Also, there is a separate process to determine determine if transactions on different weekdays differ significantly between accounts, regions, locations, stores or other variable. There is a complete description of this procedure.





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