In the following situation,which internal control procedure needs strengthening?
- Hofstra Services hired a new accountant to be responsible for the petty cash fund and the cash receipts.The newly hired employee has an accounting degree and a criminal record.
A) Assignment of responsibilities
B) Competent, reliable, and ethical personnel
C) Separation of duties
D) Documents

Question

Quizplus · Accepted Answer

The presence of a criminal record in a newly hired employee responsible for handling cash highlights a weakness in ensuring that personnel are competent, reliable, and ethical. This indicates a need to strengthen the internal control procedure related to hiring and evaluating the integrity and trustworthiness of employees.

In the Following Situation,which Internal Control Procedure Needs Strengthening