Business, 23.11.2019 06:31 lumikuz123
Acompany employs three accounts payable clerks and one treasurer. their responsibilities are as follows:
employee responsibility
clerk 1 reviews vendor invoices for proper signature approval
clerk 2 enters vendor invoices into the accounting system and verifies payment terms
clerk 3 posts entered vendor invoices to the accounts payable ledger for payment and mails checks
treasurer reviews the vendor invoices and signs each check
which of the following would indicate a weakness in the company's internal control?
a. clerk 1 opens all of the incoming mail
b. clerk 3 mails the checks and remittances after they have been signed
c. clerk 2 reconciles the accounts payable ledger with the general ledger monthly
d. the treasurer uses a stamp for signing checks
Answers: 1
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Acompany employs three accounts payable clerks and one treasurer. their responsibilities are as foll...
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