Quick 2 page Accounting Paper on Internal Controls. DUE TODAY.
The forthcoming assignment is due today by 7:30 pm US Central period.
Please use the template vocable muniment adown to total your assignment.
The Instance of Internal Controls in X Union and Ms. Smith
On a affectionate summer day in existing July 2011, Ms. Smith of the maintenanceer team of X Union sat in her appointment preparing a petition construct for rule excursion charge acquittal. She strong munimentation in maintenance of the require of the air excursion duty of her planned stumble, which she had booked recently and endwardness using her idiosyncratic honor card. The organization where Ms. Smith worked did not own a corporate excursion account.
After signing the construct, Ms. Smith walked to the appointment of the primary financial appointmentr (CFO) to ask for his praise of the petitioned reimbursement. The CFO, who knew Ms. Smith well-mannered-mannered and had worked after a while her at a anterior union, chosen in gregarious dialogue. He straightway glanced at the muniments, not bothering to look-into them or re-examination the total require of the stumble, since he trusted in Ms. Smith's accuracy. The CFO initialed the construct and gave it end to Ms. Smith, who then went to see Alex, the Accounts Payable clerk after a while whom she had also worked at the anterior union. She wanted Alex to presently mode her excursion charge acquittal petition and support a wire assign of $6,250 into her idiosyncratic bank recital. Alex was merely too merry to further her after a while what he must own considered a rule job. He was engaged after a while other tasks and did not obtain?} the convenience to re-examination the specialtys conjoined after a while the excursion charge acquittal petition. Alex presently initiated the wire assign, raspd the muniments into Ms. Smith's folder for her stumble, and then moved on to the cessation of his engaged day. Upon returning from her stumble, Ms. Smith did not rasp a reconciling charge construct after a while strong produce of her stumble.
Required: Discuss in specialty at last three mislaying internal controls, the reasons why these controls are essential, and a remedy in the instance of X Union and Ms. Smith.
Your well-mannered-written article must be 2-3 pages, in analysis to style and reference pages. The article should be constructatted according to the CSU-Global Guide to Writing and APA Requirements. Cite at last two peer-reviewed sources, in analysis to the required balbutiation for the module.