Question and answer
What are two examples of strong and weak internal controls in organizations where you have worked or have firsthand knowledge and how are these different?
I once worked for a chain retailer with a small staff most of the time. During closing whoever was available would assist in the close outs of the registers. [ The money was sometimes counted out by myself and another manager due the fact we have 4 registers. However, after we would count each other’s registers for back up. We each had to sign the deposit slip and the money bag. At the end
of the night the money bags were placed in the safe tile morning when someone else would come in and make the deposit. I thought that there should only have been one person in charge of closing out all four registers while the other person recounted the goods. If possible we should have had a third party to witness the transaction, but that wasn’t always the case. Moreover, the floor managers should have had a better knowledge of the petty cash other just our store manager. I feel this would have left less room for theft and temptation as we had already lost one store manager prior. She stole petty cash from the store and merchandise for 8 years. There was no one to regulate her internally. In the past I have worked for a small business where they would have two people close out the register at closing time, they would also have more than one employee working on the same register which I did not like because when the register would come up short it was hard to detect who was on the register at the time. The things that I would do to improve the controls would be to have only one person to close out the register and also add another register so that the employee's were not using the same register. I would also have the employee's count their register before and after their shift and then have another to confirm what they counted. ]
Expert answered|yhenbona|Points 0|
Question|Rated good
Asked 10/6/2012 12:06:49 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
17,196,639 questions answered
Popular Conversations
Consider this quote: "In each of these historical instances . . . ...
Weegy: D. it stands for the omission of only a single word. User: Which of the following statements correctly ...
9/1/2014 8:30:28 AM| 2 Answers
The invasion of this region temporarily halted the fighting between ...
Weegy: The invasion of A.Korea halted the the fighting between the KMT and CPC. User: The letters DMZ stand for ...
9/1/2014 3:12:20 PM| 2 Answers
what is a complex sentence
Weegy: User: what is a simple sentence Weegy: User: what is a compound sentence Weegy: A compound sentence ...
9/1/2014 5:04:39 PM| 2 Answers
Every set of three points is coplanar.
9/1/2014 7:59:14 PM| 2 Answers
In a market without price controls, producers can charge the _____, ...
Weegy: In a market without price controls, producers can charge the EQUILIBRIUM PRICE, so that consumers will buy all ...
9/2/2014 7:29:00 AM| 2 Answers
Weegy Stuff
S
L
1
L
Points 217 [Total 6750]| Ratings 0| Comments 217| Invitations 0|Online
S
L
C
P
C
1
L
L
Points 159 [Total 16098]| Ratings 1| Comments 149| Invitations 0|Offline
S
R
L
1
1
P
C
1
P
1
1
L
P
C
P
C
1
P
C
L
P
C
1
P
C
P
C
Points 117 [Total 24516]| Ratings 0| Comments 117| Invitations 0|Offline
S
L
P
C
P
C
1
L
P
C
L
P
C
P
C
P
C
P
C
Points 73 [Total 18604]| Ratings 0| Comments 73| Invitations 0|Offline
S
L
1
1
1
1
L
1
Points 68 [Total 9848]| Ratings 0| Comments 68| Invitations 0|Offline
S
L
P
C
L
P
C
P
C
L
P
C
P
C
P
C
Points 54 [Total 17226]| Ratings 0| Comments 54| Invitations 0|Offline
S
Points 29 [Total 699]| Ratings 0| Comments 29| Invitations 0|Offline
S
P
C
L
P
L
1
Points 24 [Total 6081]| Ratings 1| Comments 14| Invitations 0|Online
S
1
L
1
L
P
P
L
Points 24 [Total 11270]| Ratings 0| Comments 24| Invitations 0|Offline
S
1
L
L
Points 21 [Total 5145]| Ratings 0| Comments 21| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.