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9 November, 18:40

Each store manager is responsible for interviewing applicants for cashier jobs. they are hired if they seem honest and trustworthy. select a weakness in internal control select a control principle that is violated 2. all over-the-counter receipts are registered by three clerks who share a cash register with a single cash drawer. select a weakness in internal control select a control principle that is violated 3. to minimize the risk of robbery, cash in excess of $100 is stored in an unlocked briefcase in the stock room until it is deposited in the bank. select a weakness in internal control select a control principle that is violated 4. at the end of each day, the total receipts are counted by the cashier on duty and reconciled to the cash register total. select a weakness in internal control select a control principle that is violated 5. the company accountant makes the bank deposit and then records the day's receipts

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  1. 9 November, 19:04
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    1) Weakness:

    Cashiers are not bonded and background checks are not conducted

    Principle Violated:

    Human resource Controls

    2) Weakness:

    Inability to establish responsibility for cash on a specific clerk

    Principle Violated:

    Establishment of responsibility

    3) Weakness:

    Cash is not adequately protected from theft

    Principle Violated:

    Physical Controls

    4) Weakness:

    Cash is not independently counted

    Principle Violated:

    Independent internal verification

    5) Weakness:

    The accountant should not handle cash

    Principle Violated:

    Segregation of duties
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