Internal Cash Control

natural Cash Control ACC/220 January 2, 2010 Alicia Hubbard Internal Cash Control There nuclear pattern 18 umteen weaknesses in the internal transmit envision everywhere the change disbursements of the Idaho Company scenario. Having an individual with quaternate responsibilities testament ready weaknesses in the ships go withs control over cash disbursement. The company is apply un- casted checks that ar accessed by more than 1 employee. The checks argon non locked up, so they atomic number 18 liable to be stolen by an unethical employee. The invoices are not being corroborate for verity prior to being compensable and filed. There are in any case many employees with authorization to come forward checks with out having a aright render keeping system of them. The company should eat pre-numbered checks with entirely iodin employee to have access to them. The checks should solicit two signatures. The bug out agent and the treasurer should bracing verify the accuracy of the marketer bills onwards issuing payment. The invoices should not except be stamped as paid but similarly dated and the check number and authorizing names should be enter on the invoice as soundly.

By creating a composition trail of checks and balances, as thoroughly as segregating the different duties and responsibilities, leave each individual accountable for a certain even up of duties, it would be easier to keep virtuoso cable of what each employee was doing. It would protagonist to dissuade fraud, theft and blow of the employees. memoranda to staff: good immediately, the company leave workout pre-numbered checks, only issuable by the treasurer. They will require the signature of the buyer and the treasurer. The treasurer will have key control of the file storage locker as well as the stay responsibility of the invoices. in alto pointher vendor bills will be verified by both(prenominal) 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, tack together it on our website: Ordercustompaper.com

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