You just took over the role of Treasurer of WHWT (West High Wicked Terriers) Business Club and realized a clear violation of segregation of duties. You mention this to the president of the organization and your advisor. Both feel that you are overreacting and that a separation of duties isn't something a treasurer on this level should worry about. Take a step-by-step approach and advise both your organization's president and your advisor that it is time to strengthen the internal controls when the following circumstances occur. Explain through an accounting standpoint what is wrong with each scenario and the course of action you're recommending for each problem you have seen: Check #841 $560.00 is not dated and there's no indication of who the check was made out to, backup sales receipts are nowhere to be found

Answer rating: 100% (QA)

1 Issue Identified Undated Check and Missing Information Explanation From an accounting standpoint a... View the full answer