Question: In properly designed internal control, the same employee should not be permitted to a. Sign checks and cancel supporting documents. b. Receive merchandise and prepare

In properly designed internal control, the same employee should not be permitted to

a. Sign checks and cancel supporting documents.

b. Receive merchandise and prepare a receiving report.

c. Prepare disbursement vouchers and sign checks.

d. Initiate a request to order merchandise and approve merchandise received.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Internal Auditing Questions!