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#1780704 - 01/29/13 04:01 PM audit exception?
madukes Offline
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madukes
Joined: Jul 2009
Posts: 1,472
Flyers Country
Please let me know if you are aware of any audit issues with this: I perform the inclearing (nsf returns/pays)and adjustments (amongst other things). I work closely with our Acctg Dept in maintaining our Fed GL. Presently another department (not Accounting) does our daily fed entries moving the money from inclearing to the GLs where the funds are needed. It was suggested that I do the entries going forward since I work closely with Accounting and am involved with any discrepancies with the fed gl. I feel this might be an audit issue. Any ideas? Thank you!

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#1780763 - 01/29/13 05:26 PM Re: audit exception? madukes
osucpa Offline
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Joined: May 2011
Posts: 1,410
May not be an audit issue. You could have a segregation of duties issue.

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#1780838 - 01/29/13 06:50 PM Re: audit exception? madukes
madukes Offline
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madukes
Joined: Jul 2009
Posts: 1,472
Flyers Country
thank you!

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#1781041 - 01/30/13 12:00 AM Re: audit exception? madukes
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Segregation of duties should be an audit issue!
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#1781043 - 01/30/13 12:11 AM Re: audit exception? madukes
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 84,332
Galveston, TX
I think the key is who does the monthly reconciliations and not so much the daily entries.
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