A small scale industry has its guest house for the company guests. The guest house is controlled

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A small scale industry has its guest house for the company guests. The guest house is controlled by Guest House In-charge who orders the consumables required for guests and receives the same directly by the vendors. He is also in-charge of authenticating the goods received and the invoice raised by the vendor. However, the approving authority is the Chief Administrative Officer. Finally the invoice is sent to the accounts department for the payment. Would you like to suggest internal financial control review for the above situation?

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Financial Accounting For Management

ISBN: 9789385965661

4th Edition

Authors: Neelakantan Ramachandran, Ram Kumar Kakani

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