Assume that you are an internal auditor and you are looking at the cash receipts processing operation. Checks in the amount raging from a few dollar to tens of thousands are received in payments of account receivable. The payment comes to the organization’s general post office box and are separated from other mails and delivered to the cash processing unit.

Answer rating: 100% (QA)

Internal Control Methods and Procedures for Accounts Receivable Debtors Strong internal control procedures for managing accounts receivable are critical to improving cash flow ensuring the reliability ... View the full answer