Business, 04.10.2019 19:20 paige1616

Explain how the principle of separation of duties is violated in each of the following situations. also, suggest one or more procedures to reduce the risk and exposure highlighted in each example. a. a payroll clerk recorded a 40-hour work-week for an employee who had quit the previous week. he then prepared a paycheck for this employee, forged her signature, and cashed the check. b. while opening the mail, a cashier set aside, and subsequently cashed, two checks payable to the company on account. c. a cashier prepared a fictitious invoice from a company using his brother-in-law’s name. he wrote a check in payment of the invoice, which the brother-in-law later cashed. d. an employee of the finishing department walked off with several parts from the storeroom and recorded the items in the inventory ledger as having been issued to the assembly department. e. a cashier cashed a check from a customer in payment of an account receivable, pocketed the cash, and concealed the theft by properly posting the receipt to the customer’s account in the accounts receivable ledger.

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Explain how the principle of separation of duties is violated in each of the following situations. a...

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