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profileShenice1979
 
DUE in the next hour
 
describe any violations of good internal control procedures and indicate the steps you would suggest to correct the internal control weakness.
 
1. John Smith is the petty-cash custodian. John approves all requests for payment out of the $200 fund, which is replenished at the end of each month. At the end of each month, John submits a list of all accounts and amounts to be charged, and a check is written to him for the total amount. John is the only person ever to tally the fund.
    • 5 years ago
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