As the senior accountant, the chief financial officer (CFO) has asked you to assemble a team to develop the internal controls 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.
• Describe the internal control structure that the team would propose.

Select two of your classmates' posts, and respond to one of the following:

• Do you agree with the internal control structure proposed? Why?
• What additional internal control elements could be added to the proposed structure?