What auditing standards references the below scenario as internal control weakness? 1. Miguel a store manager does...
What auditing standards references the below scenario as internal control weakness?
1. Miguel a store manager does not writing the full name on the back of the check.
2. Miguel is keeping all the checks openly on his desk and the same is taken to bank on the next working day Monday.
3. Miguel withholds $100 petty cash from the deposits from the check to purchase coffee and office supplies.
Homework Answers
2 Miguel is keeping all the checks openly on his desk and the same is taken to bank on the next working day Monday
Since, checks are one of the most important asset of an organisation, their should be a proper system of keeping them at proper place and getting them deposited in bank as early as possible to avoid any fraud.
Internal control involve assessing the risk and implementing the control activities to ensure fraud free environment, thus 2 nd point refers to weanessweain internal control.
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What auditing standards references the below scenario
as internal control weakness?
1. Miguel a store manager does...
What auditing standards references the below describes the scenario as internal control weakness? 1.Deposit slips from the bank...
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anything helps! thank you!!
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