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As the senior accountant, the chief financial officer (CFO) has asked you to assemble a team to develop the internal control for cash receipts and
As the senior accountant, the chief financial officer (CFO) has asked you to assemble a team to develop the internal control for cash receipts and cash disbursements. The organization receives customer payments daily that are mailed to a central lockbox. Vendor payments are made once a week. All vendor invoices are received by mail. There are five employees in the Accounting department including yourself. * Explain the members of the organization whom you would place on the team, and explain how the team would work together to develop the internal controls. * What additional internal control elements could be added to the proposed structure
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