Details of this Paper

Instructions - Identify the internal control principles and their application to cash disbursements of Marais Company.

Description

solution


Question

Instructions - Identify the internal control principles and their application to cash disbursements of Marais Company.;The board of trustees of a local church is concerned about the internal accounting controls pertaining to the offering collections made at weekly services. They ask you to serve on a three-person audit team with the internal auditor of the university and a CPA who has just joined the church. At a meeting of the audit team and the board of trustees you learn the following.;A team of ushers, who volunteer to serve for 1 month, takes weekly service collections. The ushers take the collection plates to a basement office at the rear of the church. They hand their plates to the head usher and return to the church service. After all plates have been turned in, the head usher counts the cash received.;The head usher then places the cash in the church safe along with a notation of the amount counted. The head usher volunteers to serve for 3 months.

 

Paper#25529 | Written in 18-Jul-2015

Price : $22
SiteLock