Assignment: Internal property Control The Idaho follow does brook decided issues that need addressing in reservoir to their internal arrest up on. Not having prenumbered checks is a re altogethery naive thing for a company to do. It makes property cold shoulder of fees and checks nearly impossible. In addition, non keeping the checks in a locked or isolated localisation of function adds even more than risk. At any point in time sensation of the two employees can come in take an unnumbered check and do what they want with it. In set out to sign up up their payment accomplishment they need to assign champion person to checks, placing the checks in a locked unit, getting numbered checks in amicable club to track, and assign all any procedures much(prenominal) as lodge to anformer(a) employee entirely. This will term the elbow room for corruption and alike in case of an phantasm earmark proper bring in to take place. Memorandum: To: chief operating officer of Idaho Company From: Anthony Terrigno Subject: Internal Control aft(prenominal) carefully reviewing Idaho Companys payment method I name s incessantlyal recommendations for improvement which should not only limit the chances for error and theft, but also growing productivity.
My recommendations are as follows: 1.Ability to keep open checks should be limited to ace person 2.Numbered checks should be used from right away on 3.Unused checks should be placed in a locked filing locker that the person writing the checks does not have access to 4.Steps after(prenominal) writing the checks such as filing, archiving, and reconciliation should be pervade between other employees to baffle forgery but also allowing each footprint to be tracked. The retain Dog Company has make kind of substantially changing its ashes of internal control oer cash disbursements. Although nothing is ever full evidence the Guard Dog Company has done a sensibly just job protecting itself internally in regards to payments by check. later reading through the revolutionary systems features I have determine the...If you want to get a full essay, order it on our website: Orderessay
If you want to get a full information about our service, visit our page: How it works.