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Question 4 (1.5 marks): XYZ Company has considerable cash collections on a regular basis. The cashier receives the cash, records it and then banks it
Question 4 (1.5 marks): XYZ Company has considerable cash collections on a regular basis. The cashier receives the cash, records it and then banks it at the end of each day. Since a single person is responsible for access to cash, the financial director is concerned that fraud and error may occur in cash handling and recording. Suggest the financial director several internal controls to prevent such errors or misappropriations? (at least 3 controls)
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