Bill Smith is a trusted employee working in a branch of BCC Technical Inc. a computer services company. She has various responsibilities which include:
Selecting and maintaining vendors who provide services and products to the company
Preparing the monthly bank reconciliations for supervisory review
Write checks for company expenditures. To promote efficiency if the expenditure is less than $1,500 it does not require the approval of a supervisor.
Works with another employee to maintain the inventory of office supplies.

Briefly discuss some internal control issues identify any weakness (exposures) and strengths surrounding the role of Bill Smith. Use appropriate terminology from our class discussions and readings that would apply to the discussion of internal controls.

Answer rating: 100% (QA)

Following are the issues which could cause fraud in BCC Technical Inc Issue 1 No regulation on vendo... View the full answer