Question: Following are five separate cases involving internal control issues Required: 1. For each case, identify the principle(s) of internal control that is violated. Chi Han
Following are five separate cases involving internal control issues Required: 1. For each case, identify the principle(s) of internal control that is violated. Chi Han receives all incoming customer cash receipts for her employer and posts the customer payments to their respective accounts A Tico Company, Julia and Trevor derate lunch hours la is the petty cash custodian, bai someone needs petty cash when she is at lunch, Trevor flisin as custodian Nen Norum posts al patient charges and payments at the Hopeville Medical Clinic Each night Nodi backs up the computerized accounting system but does not password lock her computer Ben Shales prides himself on hiring quality workers who regulide supervision. As ofice manager d Ben gives his employees full discretion over their tasks and for years has seen no reason to perform independent reviews of their work Carla Farah's manager has told her to reduce costs Carla decides to raise the deducible on the plant's property insurance from 55.000 to $10,000 This cuts the property insurance premium Inhallin a related move, she decides that bonding the plant's employees is a waste of money because the company has not experienced any losses due to employee thet. Carla saves the entire amount of the bonding Insurance premium by dropping the bonding Insurance 40 Ere
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