Your student club recently volunteered to go door-to-door collecting cash donations on behalf ofa local charity. The charity’s accountant went berserk when you said you wrote receipts only fordonors who asked for one.Required:Identify the control principle that you violated and explain how that violation could allow fraud tooccur. What controls might be appropriate to use in the future?

Your student club recently volunteered to go door-to-door collecting cash donations on behalf ofa local charity. The charity’s accountant went berserk when you said you wrote receipts only fordonors who asked for one.Required:Identify the control principle that you violated and explain how that violation could allow fraud tooccur. What controls might be appropriate to use in the future?

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 9RQSC

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