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Help plz!! hat is volated. Served Help to perform ach night Nori Divide responsibility for related transactions. Establish responsibilities. Perform regular and independent reviews. Insure
Help plz!!
hat is volated. Served Help to perform ach night Nori Divide responsibility for related transactions. Establish responsibilities. Perform regular and independent reviews. Insure assets and bond key employees. cided to save Maintain adequate records. ctible on the mium in halt in ecause the eamount of the Required: 1. For each case, identify the principle(s) of internal control that is violated. a. Ben Shales prides himself on hiring quality workers who require little supervision. As office manager, Ben gives his employees full discretion over their tasks and for years has seen no reason to perform independent reviews of their work. b. Nori Nozumi posts all patient charges and payments at the Hopeville Medical Clinic. Each night Nori backs up the computerized accounting system but does not password lock her computer. c. At Tico Company, Julia and Trevor alternate lunch hours. Julia is the petty cash custodian, but if someone needs petty cash when she is at lunch, Trevor fills in as custodian. d. To ensure the company retreat would not be cut, the manager of Lavina Company decided to save money by canceling the external audit of internal controls e. Carla Farah's manager has told her to reduce costs. Carla decides to raise the deductible on the plant's property insurance from $5,000 to $10,000. This cuts the property insurance premium in half in a related move, she decides that bonding the plant's employees is a waste of money because the company has not experienced any losses due to employee theft Carla saves the entire amount of the bonding insurance premium by dropping the bonding insurance Step by Step Solution
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