This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: protect their business. 3. Are write-offs of bad debts approved by an official not associated with the selling or credit functions? a. No, Approved by Brenda Robertson, the credit manager, who initials them. The same person who handles the credit of the company shouldnt be in charge of bad debts write-off because there should be a segregation of duties. 4. Are sales invoices checked as to prices and mechanical accuracy? a. No, Client considers it not cost effective. This can cause trouble with clients if someone believes another to be inaccurate. 5. Are customers billed by someone who has no other sales or accounts receivable responsibilities? a. No, billed by the bookkeeper, Don McKenna, who records journal entries. This also violates the control procedure of segregation of function....
View Full Document
- Spring '10