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Unformatted text preview: Examine sales invoice for initials. Examine a sample of bank reconciliations for indication that the controller prepared each one. Observe whether the supervisor is present and performing his responsibilities at the time employees check in. Observe president's secretary opening mail and prelisting cash receipts. Also examine existence of prelisting. * The primary concern in these two items is the separation of duties rather than the existence of the deposit slip and prelisting. The primary test of control procedure must therefore be observation. 13-2...
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This note was uploaded on 04/11/2010 for the course ACCT 422 taught by Professor Blake during the Spring '10 term at MD University College.
- Spring '10