United Way & Goodner Bros Audit Case Study

3.3 United Way 1.There be some(prenominal) fundamental and efficient intrinsic keep in lines that would fork everyplace saved these charities millions of dollars. The first creation in the main that executives at heart these organizations should non ease up follow gibe over their single financial sections. Several of these fraudsters had commit control in that they would find oneself the donation checks, authorize them by endorsing them, and whence likewise having control over the financial records demand to account, or non, for the donations. A simplistic control would assimilate been a separation of duties such as psyche who receives the checks should not have the function of besides record these entries in subsidiary or general ledgers. Having custody, authorization, and control over recording of donations makes it in all in addition easy for veritable checks to disappear. A control would be to have two or more(prenominal) different people blossom out checks, create absolution lists of all the checks they received, they then give these lists to someone else and the people who postulate the checks then brings back the deposit trip with the deposit measuring which bunghole then be sustain by someone else against the remittance listings. Accountants or bookkeepers should never grapple cash or checks at any point in spite of appearance the revenue and assembling cycles.

excessively these charities CEOs and boards should return a cipher of give etc that treats fraud extremely gratingly and it is a looking at that should be adopted by top executives and then it would collide with through the charity 2.I do not feel that certified world accountant firms have a responsibility to audit kind-hearted or non-profits for a trim back fee because these massive charities are ease businesses. They employee hundreds of thousands of people and function as a business, the only oddment is that they do not turn any shell of profit. Also charities should be needed to hire auditors because their fee allow for be substantially slight than the fraud that can be commit with the lack of controls or...If you compulsion to get a complete essay, evidence it on our website: Ordercustompaper.com

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