Course facilitater



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Special Assignment

COURSE FACILITATER

Dr.C.T.Gamage

5 April 2021

Mr. Dissanayaka
The Managing Director
XYZ Ltd

Dear Mr. Dissanayaka



INTERNAL CONTROL RECOMMENDATIONS FOR CHEQUE PAYMENTS AND PETTY CASH

“Internal controls” are methods and procedures that help an organization maintain its operations efficiently and prevent fraud and error.

As mr. dissanayaka said entity normally petty cash account has a working balance of about Rs.2500 but each month Rs.5000 is spent from the fund . So as an auditor I think this happened because there was no proper internal control here. First of all, we must practice better internal control methods in an entity to avoiding fraud and error

These are the better practice internal control methods for the entity

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