Explain to your friend whether each of the numbered items

Reference no: EM13583002

Your friend Sally has hired you to evaluate the following internal control procedures.

a: Explain to your friend whether each of the numbered items below is an internal control strength or weakness. You must also state which principle relates to each of the internal controls.
b: For the weaknesses, you also need to state a recommendation for improvement.

1: Invoices are pre-numbered.
2: The controller approves of the purchases and makes the payment since he or she is familiar with the purchases.
3: The office manager is in charge of the petty cash fund.
4: Blank checks are stored in the safe.
5: At the end of the day, the total receipts are counted by the cashier on duty and reconciled to the cash register total. (Points : 30)

Reference no: EM13583002

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