12-38 4 You were asked in February 2015 by the board of management of your church to review its accounting procedures. As part of this review, you have prepared the following comments relating to the collections made at weekly services and recordkeeping for members' pledges and contributions: A. The finance committee is responsible for preparing an annual budget based on the anticipated needs of the various church committees and for the annual fall "pledge campaign" during which most members make a commitment to contribute a certain amount to the church over the following year. B. The financial records are maintained by the treasurer, who has authority to sign cheques drawn on the church's bank account. C. The ushers take up the collection during the services each Sunday and place it uncounted in a deposit bag in the church safe. Identify the risks of error or fraud, identify control weaknesses, and recommend improvements in procedures at the church for the following: a. Collections made at weekly services. b. Recordkeeping for members' pledges and contributions. Use the methodology for identifying weaknesses that was discussed in Chapter 8 9. Organize your answer in terms of risks, weaknesses, and recommended improvements