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Basic Cash Control: Critical Policy Exercises

Exercise Question
Critical Policy Exercise 1

It's important to recognize what separation of duties looks like. Let's say that you are a cash handler in a department "responsible for the disbursement of funds." Which of the following cash handling duties do you think should be separated?

  1. The employee, the manager, the customer
  2. Signing authorized check requests, reviewing departmental ledgers, receiving checks
  3. The authorizing of cash handlers, conducting background checks, accepting money from customers
Critical Policy Exercise 2

Although separation of duties is always a guiding principle, sometimes a smaller department may not have enough personnel to accommodate separation of duties. What do you think could be done in this situation?

  1. Partner with your supervisor. Ask your supervisor to double-check your work at regular intervals throughout the day.
  2. Set aside a special time and place to handle cash processing. Ensure the place is separate from all other work duties. Let your supervisor know when you are about to work on cash processing activities.
  3. Do all the cash processing steps and show it to your supervisor all at once at the end of the day.
  4. Answers a and b only
  5. Answers a and c only
Critical Policy Exercise 3

You are a cash handler in your department. Your duties have included accepting cash from customers, writing deposit slips, balancing receipts and depositing cash. Which of the following statements apply?

  1. By handling all these tasks, you are managing cash in a seamless and efficient way, thus reducing the risk of cash loss. You should continue to do so.
  2. You are an honest person and you are always careful to account for everything. As long as you have yourself covered, you and University cash are ok.
  3. As a result of taking this on-line course, you discover that the way you are handling cash does not provide any separation of duties. You ask your supervisor to distribute the cash handling tasks between you and another employee.
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