(Solution) : Carol B., Sue K., and Marcia D. work for a family physician


Carol B., Sue K., and Marcia D. work for a family physician. The doctor is knowledgeable about office management practices and has segregated the cash receipt duties as follows: Carol opens the mail and prepares a triplicate list of money received. Carol sends one copy of the list to Sue, the cashier, who deposits the receipts daily in the bank. Marcia, the recordkeeper, receives a copy of the list and posts payments to the patients’ accounts. About once a month, the office clerks have an expensive lunch they pay for as follows. First Sue endorses a patient’s check in the doctor’s name and cashes it at the bank. Carol then destroys the remittance advice accompanying the check. Finally, Marcia posts payment to the customer’s account as a miscellaneous credit. The three justify their actions by their relatively low pay and knowledge that the doctor will likely never miss the money. What went wrong with the doctor’s internal controls? Would bank reconciliation uncover this office fraud? What changes can the doctor make to prevent this fraud? (Besides firing?)

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Ans 1. Since Carol destroys the remittance advice accompanying the check and later by mistke Marcia post payment to customer account as Miscellaneous

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