QS 7-3 Internal controls for cash \( \lcm{C} \mathrm{LO} 3 \) Page 507 The treasurer of a local not-for-profit organization was found guilty today of defrauding the organization of thousands of dollars. Among the individual's many responsibilities were the recording of cash deposits, the writing of cheques, and the preparation of the bank reconciliation. A member of the organization suspected wrongdoing when the treasurer reported total cash collections of $2,800 regarding the sale of non-sequentially numbered raffle tickets; the member submitted $1,600 to the treasurer and knew that other members had collectively sold in excess of $3,000. The police were consulted and an investigation revealed that the treasurer not only had pocketed an undisclosed amount of cash over a two-year period but also had made cash withdrawals from the bank and destroyed the debit memos returned with the bank statement. Required Identify three weaknesses in how cash is handled. For each weakness, explain the implication of the weakness and make a recommendation to the organization for the future