Should all companies require a voucher system


Response to the following questions:

1. Good internal control procedures for cash include which of the following?

(a) All cash disbursements, other than those for very small amounts, are made by check;

(b) One employee counts cash received from sales and promptly deposits cash receipts; or

(c) Cash receipts by mail are opened by one employee who is then responsible for recording and depositing them.

2. Should all companies require a voucher system? At what point in a company's growth would you recommend a voucher system?

 

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Auditing: Should all companies require a voucher system
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