form. The branch manager reviews and approves the Cash Advance Approval form and sends a copy to accounting and another to the agent. The agent sub- mits the copy of the Cash Advance Approval form to the branch office cashier to obtain the cash advance. At the end of each month, internal audit at the home office reconciles the expense reimbursements. It adds the total dollar amounts on the expense reports from each branch, subtracts the sum of the dollar totals on each branchs Cash Advance Approval form, and compares the net amount to the sum of the expense reimbursement checks issued to agents. Internal audit investigates any differences.

REQUIRED Identify the internal control strengths and weaknesses in Excels expense reimburse- ment process. Look for authorization, recording, safeguarding, and reconciliation strengths and weaknesses. (CMA Examination, adapted)