Question: What internal control procedures would be most effective in preventing the following errors or fraudulent acts? A) A retired employee was not removed as current
What internal control procedures would be most effective in preventing the following errors or fraudulent acts?
A) A retired employee was not removed as current employee from the payroll master file. The retired employees payment method was changed to EFT and the banking details updated to reflect that of a payroll clerks friend
B) The cashier signed a second payroll Chequers to be paid from the organizations regular bank account for a friend in debt
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
