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Homework answers / question archive / Company has the following internal controls over cash payments
Company has the following internal controls over cash payments.Identity the control activity that is applicable to each of the following 1 2. 3 Company cheques are pre-numbered. Blank cheques are stored in a safe in the controller's office. All employees in the accounting department are required to take vacations each year. The bank statement is reconciled monthly by the assistant controller. Both the controller and the treasurer are required to sign cheques or authorize EFT Cheque signers are not allowed to record cash payments. 5. 6 Documentationer Nicodi control Establiment respon Al viderentdeckoperformance e Textbook and Media
Control activity for each is below;
1. Documentation procedures,
2. Physical , mechanical and electronic controls,
3. Human resource controls,
4. Independent internal verification,
5. Segregation of duties and
6. Segregation of duties.
