Principles & Practices Exercise 5

Selma works for a high cash volume unit and she is responsible for reconciling accounts monthly. It occurs to Selma that there has been a possible pattern of discrepancies (differences) in which losses are shown. She wonders about them because she has been careful to hold the line cashiers responsible for balancing accounts daily. She reported previous losses to her supervisor, but no action was ever taken. Selma is suspicious of her supervisor's activities. What should she do?

Document the losses and report it to the audit department.
Document the pattern of losses so that she is not responsible and confront her supervisor with the evidence.
Continue to stay alert for further patterns.

Answer 5

Financial Affairs

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Basic Cash Control: Principles and Practices Exercises