Homework Answers
The two courses of action that you might consider are:
- Adhere to the instructions of your manager and enter each sale immediately as and when it occurs. This course of action will require rejecting the proposal of the assistant manager even if it means certain delays due to the lunch hour traffic.
- Accept the proposal of the assistant manager but only after informing the manager of this change and ensuring that a proper internal control mechanism is put in place that will ensure that the actual amount of cash paid by customers’ tallies with the amount of sale. This control mechanism will ensure that there is no scope of fraud or opportunity for the assistant manager or any other person to report lower sales and hence pocket the cash difference themselves.
The above two proposed courses of action will minimize the scope of any fraud and will also ensure that there is optimal risk mitigation and fraud is prevented and any instances of fraud or misappropriation of funds will be timely detected.
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