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FunTime Cinemas is considering implementing number of internal controls in their business. For each example below, identify one internal control that is lacking. Example (a)
FunTime Cinemas is considering implementing number of internal controls in their business. For each example below, identify one internal control that is lacking. Example (a) The computer system used to issue movie tickets and record the receipt of payment from customers, is used by multiple staff under a single generic log in (b) At the end of the day a staff member who is responsible for ticket sales, is required to count all the money received, enter the information into the accounting system and then bank the money (c) Sometimes when the cinema is busy, the person who is responsible for checking that each customer's movie ticket is valid before allowing them entry to the cinema, does not always check every ticket because they don't want customers to have to wait as long (d) When paying for items purchased by FunTime Cinema, the accounts payable clerk will make payments from the bank account using direct debit but not print a copy of the receipt to keep for the business's records (4 marks)
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