Question
The front office clerk receives checks, and he deposits them into the bank daily. He also performs the bank reconciliations at the end of the
The front office clerk receives checks, and he deposits them into the bank daily. He also performs the bank reconciliations at the end of the month. Which element of the internal control system is being violated?
Use of technology
Proper documentation and backups
Monitoring and compliance
Separation of assets from custody
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Cost Accounting
Authors: Srivastava Lal, Jawahar Lal
5th Edition
1259026523, 978-1259026522
