Explain the members of the organization

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As the senior accountant, the chief financial officer (CFO) has asked you to assemble a team to develop the internal controls for cash receipts and cash disbursements. The organization receives customer payments daily that are mailed to a central lockbox. Vendor payments are made once a week. All vendor invoices are received by mail. There are five employees in the accounting department, including yourself.

Problem 1: Explain the members of the organization whom you would place on the team, and explain how the team would work together to develop the internal controls.

Problem 2: Describe the internal control structure that the team would propose.

Reference no: EM132773212

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