Documente Academic
Documente Profesional
Documente Cultură
Group Assignment
NAME MATRIC NUMBER
Jaganish 2****
Moga 2****
Thivi 2****
Thane 2****
CYCLE:
REVENUE AND CASH RECEIPTS
Cashier Cashier will receive the items from the customer over the counter.
Cashier Cashier prints out the customer receipt and handover to the customer.
No specification job
Lack of staff with no specific job description for each
Segregation of duties
person.
Inadequate documentation
Financial documents should be pre-numbered to ensure
Proper documentation
all transactions are recorded and accounted for
No segregation of job
Small businesses are susceptible to fraud by their own
Segregation of duties
employees as small businesses may have a few
employees with multiple roles.
Lack of physical security
Lack of physical security of business assets and
Restriction to assigned people
resources could result in the loss or damage to assets
and resources.
Accounting system
No proper accounting system to record transactions
Use an accounting system
that occur
c)Describe ONE (1) risk exposure from the internal control
weaknesses identified in the above.