One of the major controls over cash and cash transfers is to ensure that only authorized personnel are handling cash, making cash transfers, or investing excess cash.

Required
a. For each of the following situations, indicate the appropriate position of the individual who should be authorized to initiate and implement the transaction:
1. Electronic transfer of excess cash funds to the organization's major account for cash management and investment
2. Regular disbursement of payment for accounts payable
3. Transfer of funds to the imp rest payroll account
4. Investment of excess funds in nontraditional financial instruments.
5. Endorsement for daily cash deposits
b. For each type of authorization identified in part (a), indicate the audit evidence the auditor would gather to determine whether transactions were appropriately authorized.