Assignment task:
(It's about NSW Australia real estate)
Read the following case study and answer the questions below:
Case Study
REAL Property Professionals has a policy that all rents should be paid by cheque or electronic funds transfer, but occasionally they will accept cash from tenants. The senior property manager is always contacted when a tenant pays in cash to confirm the amount and put it in the safe until it is banked.
The receptionist is responsible for receipting rents that are paid in the office and to do the daily banking. On two occasions she has been given cash but has not followed the correct process and has taken the money without issuing a receipt and put the money in her desk drawer.
Several weeks later she sees the money in her drawer and as she cannot remember which tenants it belongs to; she takes the money and puts it in her wallet.
Questions
Q1. Explain the impact of case study 3 to the agency.
Q2. What could have been done to prevent this from happening?