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Internal controls are vital to the proper and secure handling of cash and other assets. Smitty's Convenience Store has two identical cashier terminals (but
Internal controls are vital to the proper and secure handling of cash and other assets. Smitty's Convenience Store has two identical cashier terminals (but no barcode scanners) in the store, as often there are two clerks working during busy shifts. The clerks each have their own cash float, and balance out their cashier terminal at the end of every shift. Smitty is generally happy with this arrangement but asks for your advice on three other types of controls that could make the arrangement stronger. Provide the three controls, including an explanation as to how you would see these controls improving the cash handling situation in the store. Provided Smitty implements all of your suggestions, would they now have an overly complicated and redundant control environment?
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