• In your examination of a medium sized restaurant you observe that all customers pay their cheque to a single cashier, who also prepares and makes daily banking deposits. she submits a copy of the deposit slip to the accountant, so that he can record the daily cash receipts.

Instructions:

• Describe the weaknesses in internal control.
• Describe in detail the audit procedure you need to apply in this case, uncover irregularities that could happen.

Answer rating: 100% (QA)

Internal controls are basically the procedures processes and the rules and regulations that are impl... View the full answer