Question 3b
Marking Guide
2 marks for each control weakness.
1 for explaining the weakness and 1 for control over that weakness.
– size of petty cash balance | |
| – security of petty cash box | |
| – high value petty cash expenditure – individual items | |
| – authorisation of petty cash expenditure | |
| – counting of petty cash | |
| – no review of petty cash vouchers – signing of imprest cheque | |
| – vouchers not pre-numbered | |
| – other relevant points | |
| maximum marks | 12 |