Answer: The organization lacks proper separation of duties due to a limited number of employees.
Trend: This deficiency increases the risk of errors and fraud in cash handling processes.
List: Recommend assessing staffing needs, implementing cross-training, and exploring automated solutions to improve controls.
Finding Text
Condition: The Organization is limited in employees and therefore has a deficiency in separation of duties related to cash receipts, cash disbursements, recording, and reconciliation.
Corrective Action Plan
The Organization hired additional personnel along with additional controls implemented by management and supplemental reviews by members of the Board of Directors will increase separation of duties related to accounting functions.