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Unformatted text preview: because of billing falsely. Office manager who makes bank deposits also reconciles bank statements. It should be segregated The cash balance could be overstated because of notl depositing the whole amount of the cash. 7.46) a) Tylers work can be relevant to Norths work in the means of internal control policies and procedures. Tylers can provide useful information for North related with his company General Co. Also by checking results of Tyler work he can have an overview on possible records that are misstated by using checking numbers such as, the average net income of their sector. b) He needs to decide if Tylers work is objective and accurate. One of the ways of checking it is inquiring his relation with this company. 7.47) CASE A CASE B CASE C 1 Low Moderate Maximum 2 Tests performed none None 3 Max Moderate Low Moderate Low 4 lowest low moderate High Highest 5 Highest High Moderate Low Lowest...
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This note was uploaded on 10/21/2008 for the course ACCT 4377 taught by Professor Khumuwala during the Spring '08 term at University of Houston.
- Spring '08