Internat Cash Controls

Internal Cash Controls T here are several(prenominal) unlike methods of midland cash control that abide instal or break a company. In the following paragraphs different methods employ by different businesses testament be evaluated and sore suggestions result be made as how to better the chances of bit ingrained theft and paperwork errors. get-go, the Idaho Company has several opportunities for error. The first riddle here is that there are two different smoke that affirm access to blank unnumbered curtails, and they separately even off for their deliver areas and file their own invoices. There is so oftentimes direction for theft and error. Having unnumbered checks that are unlocked could result mode for any maven to take them and forge a signature. The invoices could easily get mixed-up or mixed up between the two people. Having one bank account is hunky-dory if one somebody is in eruption of the spending and an opposite(prenominal) person is in rout out of the recording. Here is a memo that improves the air that Idaho Company can improve their internal controls. To: Alana Davis, CEO From: Cindy Barber, Independent Auditor Date: February 08, 2009 Subject: deviate Company Procedures on Internal Cash Control As I urinate been evaluating how cash is operated in the Idaho Company; I see there is much improvement to be had.

First of whole there should be more segregation when it comes to certain(prenominal) duties. I suggest that one person be in shoot of invoices and other liabilities that the company owes by documenting everything. One other person should be in charge o f all of the check writing, and the troika ! person actually receive the merchandise and have that checked in with the other two before everything is approved. This provide suffer for one person to be in charge of each aspect of a task, but there will be different people for coordinating jobs. This will reduce guttle on the chance of employee theft, as well as people misplacing documents. Another suggestion that I might conduct is the way that the checks and invoices are handled. All...If you want to get a bounteous essay, put it on our website: BestEssayCheap.com

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