Internal Cash Control

Assignment: Internal Cash Control

















































The Idaho Company does brook definite issues that need addressing in reference to their internal check up on. Not having prenumbered checks is a very naive thing for a company to do. It makes property track of payments and checks nearly impossible. In addition, not keeping the checks in a locked or isolated location 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 reduce up their payment operation they need to assign one person to checks, placing the checks in a locked unit, getting numbered checks in social club to track, and assign all any procedures much(prenominal) as file to anformer(a) employee entirely. This will term the room for corruption and alike in case of an error allow proper bring in to take place.

Memorandum:
To: CEO of Idaho Company
From: Anthony Terrigno
Subject: Internal Control
aft(prenominal) carefully reviewing Idaho Companys payment method I have several recommendations for improvement which should not only limit the chances for error and theft, but also increase productivity.



My recommendations are as follows:
1.Ability to write checks should be limited to one person
2.Numbered checks should be used from now on
3.Unused checks should be placed in a locked filing cabinet that the person writing the checks does not have access to
4.Steps after writing the checks such as filing, archiving, and reconciliation should be spread between other employees to prevent forgery but also allowing each footprint to be tracked.


The Guard Dog Company has done kind of well changing its system of internal control over cash disbursements. Although nothing is ever full evidence the Guard Dog Company has done a sensibly good job protecting itself internally in regards to payments by check. After reading through the new systems features I have identified the...If you want to get a full essay, order it on our website: Orderessay



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