Question: Need Help please!! Following are five separate cases involving internal control issues. Required: 1. For each case, identify the principle(s) of internal control that is
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 al incoming customer cash receipts for her employer and posts the customer payments to their respective accounts. Separate recordkeeping from custody of assets b. To ensure the company retreat would not be cut, the manager of Lavina Company decided to save money by canceling the external audit of internal controls c. Marker Theater has a computerized order-taking system for its tickets. The system in backed up once a year Perform regular and independent reviews d. Tywin company Keeps very poor records of its equipment. Instead, the company asserts its employees are honest and would never steal from the company, Establish responsibilities A Tico Company, Julia and Trevor alternate lunch hours Julia is the petty cash custodian, but it someone needs petty cash when she is at lunch Trevor ilin as custodian Apply technological controls
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