You are working at a manufacturing corporation, as a bookkeeper your task is to prepare FS monthly and bank reconciliation. You are working with the Cashier of the company whose all cash disbursement and collection was under her custody. She disburse and deposit the cash collected. Although there is a petty cash custodian, but all huge amount of transaction was controlled by the cashier.

 

There is a Treasurer but she trust and rely on the report of the Cashier on the Daily and monthly cash position of the company.

 

Until during the meeting of the Owner or Director of the Company, they found out that Cash on hand amounting to 15M was not deposited as of July 31, 2021, but when the cash count was conducted only 200k was available, further investigation was done. It was discovered the Receivables with age of 180 days and above are already paid but still in the books.

 

As a bookkeeper when you are asking the bank statements or supporting for bank recon, cashier has many alibies and delay in the submission of report. The cashier was file a resignation.

 

Question: How will you solve this case?

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