Chap 11

CHPATER 11: The Embezzling Cashier Case Page: 467 Question: If you were in the position of audit manager, what evidence would you obtain and why? DC 11-3 Cash Receipts: Weakness and Recommendations page: 474 Current system: 2 clerks, 1 treasurer, at the end of the day one of the clerk goes to treasurer, counts infront of clerk, put it in safe, takes money to the bank on fri, bank deposits slip. input = $% or no fee for members process : cash process - revenue process maybe a recievable process for members board is trying to see if turnstiles needs to be installed for cash admission fees. you can print tickets to find out the number of people entering in. the ticket has numericals. by issuing the tickets you started the revenue process. for members it has to be photo id cards. make the 2 clerks sign off each other or a third independent person. monday volunteer wouldnt know how much money there is on friday. one treasurer handling cash and maybe controlling the accounting records. no segregation of duties.