What is wrong with each scenario and the course

Assignment Help Accounting Basics

Reference no: EM133610305

Question: You just took over the role of Treasurer of WHWT (West High Wicked Terriers) Business Club and realized a clear violation of segregation of duties. You mention this to the president of the organization and your advisor. Both feel that you are overreacting and that a separation of duties isn't something a treasurer on this level should worry about. Take a step-by-step approach and advise both your organization's president and your advisor that it is time to strengthen the internal controls when the following circumstances occur. Explain through an accounting standpoint what is wrong with each scenario and the course of action you're recommending for each problem you have seen: There is no supporting documentation that shows the tent was rented for graduation last year but cost $1250 yet check number 784 was made out to TTTents.

Reference no: EM133610305

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