The Wrong Wright Company (Wrong) needs to revise its internal control policies and you have been hired as Risk Manager to lead the effort to develop suggestions for improvement. Wrong has many employees in the Accounting Department, but cash is only managed by Wilbur Wright, a non-bonded employee, who has been a trusted employee for over 15 years. Wilbur counts all incoming cash, makes the bank deposits, reconciles all bank accounts, and pays some of the vendors in cash. Wilbur has not come to work since you were hired and has just contacted Wrong to say he is taking his first vacation in over 4 years.

 

Requirement:

As the newly hired Risk manager for wrong

A- Briefly describe four recommenfations that you will make to senior mamgement to improve Wrong's internal controls?

B- Briefly  describe one recommendation that you will make to Senior Management to improve Wrong's business practices?