United Way - Strict Case Handling Policy
Autor: Samantha Myers • May 2, 2017 • Case Study • 319 Words (2 Pages) • 770 Views
Page 1 of 2
- United way could make it mandatory that in order to be hired all employees must have an acceptable background check. Also, they could bond their employees. Internal controls are the easiest and best way for safeguarding assets. Establishing a strict policy of segregation of duties would also be very effective. This way individuals that handle cash would not have anything to do with task such as reconciling the bank statement. It could also be mandated that all checks require dual signatures.
- I do not think they necessarily have a responsibility to perform audits for charities. I mean I know that the good publicity would extremely benefit the audit firm, but I do not think it is their responsibility. Now, if I owned an auditing firm, I would offer my services for charitable organizations at a discounted rate. I would not do the services completely for free simply because it would put me out of pocket, but I would help them as long as I could at least break even only because I feel like I should.
- In my opinion based off my experience, it seems to me that most charities do not have very strong internal controls. That is if they have any at all because most that I have dealt with have not. They were not aware of the importance of internal controls or did not have enough people working for them to establish a well-developed policy of internal controls. I think something that auditors should always remember when they are auditing a charitable organization is that they should always remember to conduct the audit as if it is a full paying customer. Just because they are paying less does not mean that they should only receive half of what is normally done. Plus it would only look bad on your firm if they were to ever receive any acknowledgment of fraud within that organization.
...