Internal Cash Control

Internal Cash defy ACC/220 January 2, 2010 Alicia Hubbard Internal Cash Control There atomic pattern 18 legion(predicate) weaknesses in the internal change control everywhere the cash disbursements of the Idaho confederacy scenario. Having an individual with multiple responsibilities will ready weaknesses in the callers control over cash disbursement. The company is exploitation un-numbered checks that ar accessed by more than 1 employee. The checks are non locked up, so they are liable to be stolen by an wrong employee. The invoices are not organism corroborate for accuracy prior to being nonrecreational and filed. There are too many employees with authorization to issue checks without having a aright record guardianship system of them. The company should wipe out pre-numbered checks with entirely one employee to have access to them. The checks should require two signatures. The bug out divisor and the financial officer should twain verify the a ccuracy of the trafficker bills in the lead issuing payment. The invoices should not except be stamped as paid but also dated and the check number and authorizing name should be recorded on the invoice as soundly.

By creating a paper trail of checks and balances, as well as segregating the different duties and responsibilities, leaving each individual accountable for a certain set of duties, it would be easier to keep booster short letter of what each employee was doing. It would help to deter burlesque, theft and misconduct of the employees. memoranda to staff: Effective immediately, the company will use pr e-numbered checks, provided issuable by the! treasurer. They will require the signature of the purchaser and the treasurer. The treasurer will have key control of the filing computer memory locker as well as the verification function of the invoices. in all vendor bills will be corroborate by both the purchaser and the treasurer. All invoices will be verified by purchaser and treasurer and initialed before being stamped and filed. By using the steps of establishing responsibility and segregating duties, it would deter fraud and theft....If you want to get a full essay, order it on our website: OrderCustomPaper.com

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