Answer: The Organization lacks an internal control system for proper segregation of duties in accounting.
Trend: This issue can lead to increased risk of errors and fraud in financial reporting.
List: Implement a robust internal control system to ensure duties are properly segregated.
Finding Text
The Organization does not currently have an internal control system to allow for proper segregation of duties in certain areas of the accounting function.
Corrective Action Plan
It is not cost effective to increase office staff to assure optimal internal control. Management will continue close supervision and review accounting information as a means of preventing and detecting errors and irregularities.