Internal Control The university drama club is planning a raffle. The president overheard you talking about internal control to another accounting student, so she asked you to set up some guidelines to “make sure” that all money collected for the raffle is accounted for by the club.

Required 1. Describe guidelines that the club should follow to achieve an acceptable level of internal control.

2. Comment on the president’s request that she “be sure” all money is collected and recorded.