Question 5 ( 12 marks ) The following internal control procedures are used by Brooks Company for cash receipts and disbursements 1 . Cashiers receive all over the - counter receipts and place the cash into a single cash drawe 2 . When cash in the drawer exceeds $500 it is placed in an envelope marked " cash " and stored in a drawer in the supervisor's office 3 . The company's accountant makes daily bank deposits 4 . The clerk in the receiving department authorizes all payments for purchases 5 . Blank cheques are kept in the main office 6 . The company's internal auditor prepares bank reconciliations annually Instructions For each of the above procedures explain the weakness in internal control , identify the control policy o procedure violated and suggest a change in procedure that will result in better control