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The CFO is getting ready to leave on vacation; she will be out of the country for two weeks. She normally serves as the invoice
The CFO is getting ready to leave on vacation; she will be out of the country for two weeks. She normally serves as the invoice approver and check signer for the company. In her absence, she plans to leave the accounting manager with a supply of blank signed checks and a rubber stamp of her signature in case it is needed while she is gone. Since it's a temporary situation, the CFO does not appoint another officer as an expenditure approver in her absence. She tells the accounting manager to eyeball the invoices, and if they look reasonable to go ahead and process them for payment, or if not, to hold them until she returns. How many internal control violations do you recognize in this scenario? O Three or more o Two o One O None; it's a temporary situation, so workarounds are ok for a short time The CFO is getting ready to leave on vacation; she will be out of the country for two weeks. She normally serves as the invoice approver and check signer for the company. In her absence, she plans to leave the accounting manager with a supply of blank signed checks and a rubber stamp of her signature in case it is needed while she is gone. Since it's a temporary situation, the CFO does not appoint another officer as an expenditure approver in her absence. She tells the accounting manager to eyeball the invoices, and if they look reasonable to go ahead and process them for payment, or if not, to hold them until she returns. How many internal control violations do you recognize in this scenario? O Three or more o Two o One O None; it's a temporary situation, so workarounds are ok for a short time
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