Professional Documents
Culture Documents
Objective On Internal Control For Cash Management
Objective On Internal Control For Cash Management
Objective on Internal control for cash management: 1. They must have a Segregation of duty to secure cash receivable 2. All payment must have been authorized by personnel that have a power 3. All cash must be properly recorded, recorded cash balance matches cash on hand and/or on deposit. 4. All balance must be kept in good, secure manner 5. Management must make an early plan to budget the useful of the cash.
Objective for cash audit: 1. 2. 3. 4. Make sure all record have good faith Make sure cash balance are reasonable, Check back all cash transaction Make sure they kept money in secure place 5. Make sure management have followed a proper standard that have been set up.
Objective for NON CURRENT ASSET audit: 1. Check all supporting document to depreciation and current value of asset 2. Make sure any additional asset have been recorder properly and differentiate between capital expenses and revenue expenses 3. Make sure all disposal on asset have been recorded properly with any gain or loss on disposal 4. Make sure all depreciation are reasonable 5. Make sure asset are exist 6. To know who is the ownership on the asset and leases (if any)