ACC 225 WEEK 8 ASSIGNMENT - INTERNAL CONTROL AND BANK RECONCILIATIONS part 1

ACC 225 WEEK 8 ASSIGNMENT - INTERNAL CONTROL AND BANK RECONCILIATIONS part 1

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1 Divide Responsibility for Related Transactions They should hire another employee to post the customer's payment to their respective accounts while Heather Flatt will record all incoming customer cash receipts. This is to ensure that the work of one individual acts as a check on the other. 2 Establish Responsibilities There should proper turnover if it is really necessary for Jose to fill in. Jeff should know how much he left and how much was turned over to him when he came back, and vise versa. This way, they, both Jeff and Jose can establish who is liable when problem arise. 3 Divide Responsibility for Related Transactions Like in No. 1, they should hire another employee to post the customer's payment Nadine will record all charges. This is to ensure that the work of one individual acts as a check on the other. Also, the should consider storing their back ups on more secure places not just in a lock files in their desks. 4
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ACC 225 WEEK 8 ASSIGNMENT - INTERNAL CONTROL AND BANK RECONCILIATIONS part 1

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