Internal Cash Control

Assignment: Internal Cash Control The Idaho Company does wear definite issues that need addressing in reference to their internal chipping up on. Not having prenumbered checks is a very naive function for a company to do. It makes property track of hires and checks nearly impossible. In addition, not keeping the checks in a locked or isolate location adds even more than risk. At any take in time sensation of the two employees can diminish in take an unnumbered check and do what they lack with it. In set out to reduce up their payment operation they need to claim one person to checks, placing the checks in a locked unit, getting numbered checks in social club to track, and assign all any procedures much(prenominal) as file to anformer(a) employee entirely. This will stipulation the room for corruption and alike in case of an fault allow proper bring in to take p lace. memorandum: To: CEO of Idaho Company From: Anthony Terrigno Subject: Internal Control aft(prenominal) carefully reviewing Idaho Companys payment method I put one across several recommendations for improvement which should not only limit the chances for shift and theft, but also increase productivity.

My recommendations are as follows: 1.Ability to indite checks should be limited to one person 2.Numbered checks should be apply from now on 3.Unused checks should be placed in a locked filing cabinet that the person writing the checks does not suck in access to 4.Steps after writing the checks su ch as filing, archiving, and rapprochement s! hould be spread between other employees to prevent counterfeit but also allowing each footprint to be tracked. The justification get over Company has done kind of well changing its system of internal control over hard cash disbursements. Although nothing is ever full evidence the Guard Dog Company has done a sensibly good avocation protecting itself internally in regards to payments by check. After interlingual rendition through the new systems features I have identified the...If you hope to get a full essay, order it on our website: BestEssayCheap.com

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