United Way & Goodner Bros Audit Case Study

3.3 United Way 1.There are several fundamental and businesslike internal keep in lines that would amaze saved these charities millions of dollars. The archetypal being in the main that executives within these organizations should not move over total control over their respective pecuniary functions. several(prenominal) of these fraudsters had complete control in that they would receive the donation checks, assoil them by endorsing them, and then likewise having control over the financial records necessary to account, or not, for the donations. A simple control would have been a separation of duties such as psyche who receives the checks should not have the function of excessively recording these entries in marcher or general ledgers. Having custody, authorization, and control over recording of donations makes it either too easy for veritable checks to disappear. A control would be to have two or more different commonwealth open checks, create remittance l ists of all the checks they received, they then leave behind these lists to someone else and the people who postulate the checks then brings back the bond slip with the deposit measuring which can then be verified by someone else against the remittance listings. Accountants or bookkeepers should neer handle cash or checks at any dose within the revenue and assembling cycles.

excessively these charities CEOs and boards should establish a cipher of conduct etc that treats fraud extremely harshly and it is a looking at that should be choose by top executives and then it would encounter through the beneficence 2.I do not feel that certified public restrainer firms have a res ponsibility to audit charitable or non-profi! ts for a reduced fee because these massive charities are chasteness businesses. They employee hundreds of thousands of people and function as a business, the only remnant is that they do not turn any type of profit. besides charities should be required to hire auditors because their fee will be substantially less than the fraud that can be overstretch with the lack of controls or...If you want to get a full essay, tell it on our website: OrderEssay.net

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