Internal Cash Control

Internal cash management is very important for any company. If there is no effective way to ensure that funds and resources are used in an ethical and efficient way, the company may lose money or may encounter many other problems. By appropriately establishing accountability, separation of duties, documentation procedures and security measures, any company will be able to maintain its funds and be confident that employees are producing accurate and ethical results must. In exercises detailing cash payments in Idaho companies, people may find several major weaknesses.

This report provides an overview of Rebel Sport's internal controls and cash management functions. It will pay special attention to providing an understanding of complete internal controls and cash management that are important to retailers. Specific cash management includes cash income and cash payment. The report creates recommendations and supports them through examples. In order to clearly define the field of work, the company's organization needs to determine its functional responsibility. You should not share responsibility and permissions for specific functions. If you consider that an individual is executing a task, it may lead to duplication of work and failure of work. (Leo Duffy, Ian Monro, 1991, pg 280) For example, at the Sky Tower Casino, when the floor and supporters request a chip, the dealer converts the money into the same number of chips and puts it into that slot.

o Because cash is stolen, internal control of cash seems not enough. To prevent the TRC from continuing to do so, the Board has better internal control policies and cash management procedures such as separation of duties for collection and recording, settlement of banks, more frequent cash deposits, appropriate approval Should be secured. In addition, we need to confirm that management measures are being implemented. o According to Canadian auditing standards, we can not accept audit services, valuation services, internal audit services, designing or implementation services of financial information systems when providing non-guaranteed services such as accounting and bookkeeping. Based on the fact that it provides unrelated consulting services, we can provide audit services. Regarding the meter, we need to comply with the standard rate schedule.