Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 on As an internal auditor you have identified 5 areas of concern. You need to prepare a report for management which addresses: the

image text in transcribed

1 on As an internal auditor you have identified 5 areas of concern. You need to prepare a report for management which addresses: the IC characteristic each situation contravenes (.5 mark each), how each situation could be taken advantage of/impact the business (.5 each) and suggest a procedure to rectify the flaw in each process (1 mark each): 1. The person issuing prenumbered receipts to clients also prepares the bank deposit 2. The office junior fills in for the Assist Accountant despite having no accounting experience 3. Petty cash is kept in the stationery cupboard so it is easily accessible 4. A cashier allows another employee work his assigned register while he helps a customer 5. Purchase orders are not prenumbered

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Benefit Analysis Concepts and Practice

Authors: Anthony Boardman, David Greenberg, Aidan Vining, David Weimer

4th edition

137002696, 978-1108448284, 1108448283, 978-0137002696

More Books

Students also viewed these Accounting questions

Question

When should you avoid using exhaust brake select all that apply

Answered: 1 week ago

Question

Draw a Feynman diagram for the reaction n + v p + .

Answered: 1 week ago