Required: 1. For each case, identify the principle(s) of internal control that is violated. a....
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Accounting
Required: 1. For each case, identify the principle(s) of internal control that is violated. a. Chi Han receives all incoming customer cash receipts for her employer and posts the customer payments to their respective nccounts. b. Marker Thester has a computerized order-faking system for its tickets. The system is backed up once a year. c. To ensure the company retreat would not be cut, the manager of Lavina Company decided to save money by canceling the external audit of imernal controis. d. Nori Nozumi posts al patent charges and payments at the Hepavile Medical Cinic. Each night Non backs up the computerized accounting system but does not password lock her computer e. At Tico Company, Julia and Trevor atiernate lunch hours. Julia is the petsy cash cussodian, but if someone needs petty cash when she is at lunch, Trevor fils in as custodian. Apply technological controls. Divide responsibility for related transactions: Establish responsibilities. Insure assets and bond key employees. Separate recordeeping from custody of assets
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