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Adelaide Sema Nadia Burrows Gloria Xu Eduardo Alvarez.

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Presentation on theme: "Adelaide Sema Nadia Burrows Gloria Xu Eduardo Alvarez."— Presentation transcript:

1 Adelaide Sema Nadia Burrows Gloria Xu Eduardo Alvarez

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3 Deposit Regional Office Patients Vendors Bank Headquarters Refund / Document Expenditu re / Document Draft check/Statement

4 Opportunities is the major risk factor at Dentistar No original documents required No segregation of duties No independent checks No validity examinations Lack of communication between Home Office and Regional Office

5 Examples of internal control weaknesses Payment & Document Count% Patient Refund12 Patient Refund letters758.33% Supplies56 Supplies Invoice2544.64% Total payment68 Total payment W/ document3247.06%

6 Examples of internal control weaknesses Inconsistency between check stubs and check Check NumberDateAmount Payee on check stub Payee on CXL check 114212/30/1996192.4 U.S. Postage ServiceTom Swindler 12651/22/1997125.44 Quicks SupplyRob Howard 17106/3/1997118.19 U.S. Postage ServiceBob Turner 19226/25/199792.8 North Central ElectricBob Turner 23958/1/1997200.16Lawn ValleyTom Swindler

7 Suggested Internal Control Procedures Segregation of duties Request authentic documents Independent checks Home office & Regional office to reconcile accounts

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