Manhattan Company Letter to Jerry Mays

Manhattan Company Letter to Jerry Mays - Manhattan Company...

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Manhattan Company 1 Running head: Manhattan Company ACC557 - FINANCIAL ACCOUNTING LaKessica B. Carter BYP8-5 Assignment A Letter to Jerry Mays November 06, 2011
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November 06, 2011 Mr. Jerry Mays Manhattan Company Main Street, USA Dear Mr. Mays: We have audited your financial statements and reviewed your organization’s internal controls regarding cash receipts. Based on our reviews, there were some weaknesses determined and should be addressed in accordance with Statements on Standards for Accounting and Review Services. Listed below are my findings on your organizations weaknesses. (a) Weakness 1. List of checks received is not being prepared by the person who opens the mail. 2. The mail is being opened by one person. 3. Cashier is being allowed to open the mail. 4. Accounts receivable clerk has been allowed to open the mail. 5. Mail receipts are deposited weekly. Listed below are some suggestions that will provide some improvement with regards to the determined weaknesses.
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This note was uploaded on 01/11/2012 for the course MBA ACC557 taught by Professor Sherman during the Spring '11 term at Strayer.

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Manhattan Company Letter to Jerry Mays - Manhattan Company...

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