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After several months, LRCs supervisor is arrested for stealing nearly $10,000 from the company. Identify the internal control weakness that allowed this theft to occur.
After several months, LRCs supervisor is arrested for stealing nearly $10,000 from the company. Identify the internal control weakness that allowed this theft to occur. | |||
A.The accounting system was not adequate to detect the fraud. B. The cash collection clerks should have been at least four in number, one for each area-east, west, north, south. C. The cash collection clerks should have been made responsible for depositing the cash in the bank. D. The supervisor was responsible for handling the cash, preparing the cash count sheet, and depositing cash in the bank. E, The supervisor was not professionally qualified to account for the cash. | |||
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