Perth Ltd has a reconciliation problem. The amount of cash receipted and banked by the cashier does
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Perth Ltd has a reconciliation problem. The amount of cash receipted and banked by the cashier does not seem to match to the amount recorded in the accounts receivable customer records from the customer remittance advices. Perth Ltd seems to have good controls — it separated the receipting and recording of cash, and it regularly conducts a reconciliation.
(a) Which internal controls might be missing? (LO5)
(b) What documentation would you examine in order to investigate this problem?
(LO4)
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Related Book For
Accounting Information Systems Understanding Business Processes
ISBN: 9781742165554
3rd Edition
Authors: Brett Considine, Alison Parkes, Karin Olesen, Michael Lee, Derek Speer
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