Hello people! Mao ni siya akong ignorant assessment! Please ko check if naa ba siyay reasonable basis. Uhm.

Phoebe and Odessa, ang naai quotes kay inyu na work. And BOLD kay mga dugang nako:) Tan.awa daw if sakto and then I revise dayun inyo work kay murag lahi ta ug word nga ki.gamit. Hehe.

The internal control of bank reconciliation is not being implemented properly. An interview with the Finance manager revealed that they failed to consistently perform bank reconciliations. The internal control of bank reconciliation is not being implemented properly. An inquiry with the Finance manager and other members of the company revealed that they failed to consistently perform bank reconciliations. This, as a result, suggests that theres likely a misstat ement of the balance of the general cash account which appears a significant red light.

The automatic update of the inventory whenever a transaction occurs could be considered as a compensating control. What kind of automatic update is being referred here? RFID? BAR CODE? Automatic update of inventory kay muexist rana ciya in the perpetual system environment, and Im sure nga wala sila nagemploy ana kay cost constraints So ang statement dapat ana kay: The active involvement of the Operations Manager in monitoring abrupt changes in inventory level whenever a transaction occurs (be it a sale or a purchase) could be considered as a compensating control.
1. In purchase transactions, the Finance manager and Operations manager purchase together. This setup is an effective control over the purchasing process. Operations manager lists the items to be bought with the corresponding prices and then Finance manager records. Also, since the Operations Manager receives the goods, the authorization (general manager), accounting (finance manager) and custody of goods (operations managers) are quite properly segregated hence the basis of our fair assessment mentioned above. 2. We could not also say that there is an improper segregation of duties here since Operations managers records should coincide with Finance managers records. And Finance manager must ask General Managers authorization before withdrawing for the purchase.

1. Based on our inquiry with management, the petty cash custodian is the Finance Manager and at the same time, she is the one that makes the minor disbursements and records such. This situation suggests an improper segregation of duties since the one who is in charge of the recording or accounting function should not be the same person as the one who has the custody of the asset. Hence, Finance Manager, be her as the one in charge of the custody of the petty cash, should not be entrusted anymore of the recording of minor disbursements as suggested above and the recording of the replenishment in case the petty cash runs low.

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The company is not consistent in performing bank reconciliations.