This post addresses internal controls for cash.
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How would you describe the key internal controls that should be in place to protect cash in a cash rich environment such as a merchandiser?
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The solution provides a good discussion explaining the key internal controls that should be in place to protect cash in a cash rich environment such as a merchandiser.
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The key internal controls that should be in place to protect cash in a cash rich environment should be based on a segregation of duties. This is the most important internal control in any cash-rich environment. By using a proper segregation of controls, the internal control environment is more effective. This basically entails have different people perform different functions. For example, the ...
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