Assignment:
Questions:
1. Control Activities
- Do cashiers have their own unique username and password to access registers?
- Are there any policies for cashiers completing transactions for other employees?
- Are there controls put in place for price overrides?
- Does a price override report print on a daily basis?
- Are there controls put in place for the use of coupons?
- Does a coupon scanning report print on a daily basis?
- Is there a limit to how much money a cashier can return to a customer?
- Are the drawers reconciled more than once a day?
- Does the cashier reconcile their own drawer?
- Does more than one employee complete the deposit?
- Is the deposit taken to the bank by an employee?
- Is the safe reconciled on a daily basis?
- Information systems and communications
- Do reports print out on a daily basis?
- Is there backup for power outages?
- Is the information technology system up to date in regards to industry standards?
2. Monitoring
- Is there any supervisor employed?
- Are security devices installed on the workplace like CCTV Cameras?
- Are checkups done on regular intervals?
- Is the software used by the Cashier is well developed?
- Do the company's policies embed the monitoring purpose?
- Is there any process held like evaluation of cashier and software's.?
3. Develop and complete an internal controls questionnaire for either an asset or liability-related business cycle within the selected organization. Include questions regarding important characteristics of the following process components:
a. Control environment
b. Risk assessment
c. Control activities
d. Information systems and communications
e. Monitoring