Question

Identify an internal accounting control or procedure that would detect the following errors or omissions in a transaction processing system.
a. A nonprofit organization regularly receives unsolicited cash donations in the mail. Clerks opening the mail routinely steal a sizable percentage of the cash sent as donations.
b. Employees in the mailroom routinely mail their own— as well as their friends’— letters at the company’s expense.
c. A clerk accidentally posts a customer payment of $ 35 as $ 53 to the customer’s account in the receivables ledger.
d. A clerk purposefully posts a payment of $ 35 received from a close friend as $ 53 to the friend’s account in the receivables ledger.
e. A customer receives a bill for an item that was ordered but never shipped.
f. A vendor sends a company a bill for 50 copies of a report when only 25 copies of the report were ordered and received.
g. A clerk sends a check to a vendor to pay an invoice. The same invoice was paid by a check drawn last week by a different clerk.
h. Certain workers in a factory routinely request more materials than are needed for a job, taking the excess materials home for personal use.
i. A customer orders an item, which is requisitioned and shipped. The customer is never billed for the shipment.
j. A shipment received from a vendor is accepted by an employee in the receiving department. The employee forwards a receiving report to payables so that the vendor will receive payment. The shipment, however, is taken home for personal use.



$1.99
Sales0
Views55
Comments0
  • CreatedFebruary 26, 2015
  • Files Included
Post your question
5000