List 10 good Internal control procedures and why they are good to use. Consider what would
prevent fraud or errors. Consider what would detect fraud of errors. Consider how to implement
and monitor the procedure.
Example:
The AP clerk initiates all EFT transactions and gives the documentation to the Assistant
controller. The Assistant controller reconciles the bank statements. If the AP Clerk was (for
example) making personal EFT payments, the Assistant controller would be able to find that
during the bank reconciliation process.
This would be one part of the bank reconciliation. There are also procedures for deposits and
checks..
Role Of Transgenic Animal In Target Validation-1.pptx
List 10 good Internal control procedures and why they are good to us.pdf
1. List 10 good Internal control procedures and why they are good to use. Consider what would
prevent fraud or errors. Consider what would detect fraud of errors. Consider how to implement
and monitor the procedure.
Example:
The AP clerk initiates all EFT transactions and gives the documentation to the Assistant
controller. The Assistant controller reconciles the bank statements. If the AP Clerk was (for
example) making personal EFT payments, the Assistant controller would be able to find that
during the bank reconciliation process.
This would be one part of the bank reconciliation. There are also procedures for deposits and
checks.
