The Internal Control over Cash Payments Assignment - 1

The Internal Control over Cash Payments - Assignment ExampleNo supervisor reviews the acquire meanss work (The case study A, n.d.). In this case, the missing internal control feature is the proper approvals of the acquire activities. The possible problem of the firm is a failure on the part of the purchasing surgical incision of the company to supervise and properly approve the companys purchases. The reason is that the purchasing agent bears the responsibility of approving the invoices and signing the checks without any supervision. This problem can be solved if the purchasing department assumes its supervisory responsibility for the purchasing activities of the company.Rachel Williams owns an architectural firm. Williams staff consists of 19 professional architects, and Williams bear aways the office. Often, Williams work requires her to travel to pertain with clients. During the past six months, Williams has observed that when she returns from a business trip, the architectu re jobs in the office have non progressed satisfactorily. Williams learns that when she is away, two of her senior architects take over office management and neglect their regular duties. One employee could manage the office (The case study B, n.d.). In this case, the missing internal control characteristic is lack of insulation of duties. The possible problem of the firm is a failure on the part of the top management (Rachel Williams, the possessor of the firm) to distinguish the duties of the two senior architects, especially in her absence seizure. The possible solution to the problem lies in make one of the senior architects an assistant manager. This way, important tasks will be performed both in the presence and the absence of the manager.Mike Dolan has been an employee of the City of Southport for many years. Because the city is small, Dolan performs all accounting duties, in addition to opening the mail, preparing the depository financial institution deposit, and prepar ing the bank reconciliation.