Answer: Youth Services Network, Inc. has inadequate separation of responsibilities for handling cash transactions.
Trend: This issue can lead to increased risk of errors or fraud in cash management.
List: Implement stronger controls by assigning different individuals to manage cash receipts, disbursements, and record-keeping.
Finding Text
Youth Services Network, Inc. has a lack of segregation of duties over cash receipts and cash disbursements and the subsequent recording of these transactions in the accounting records.