Office of the Controller Self-Assessment of Internal Controls Cash Receipts Cycle Objectives and Agency ____________________________ Year-End _________ Objectives Risks All collections are properly identified, control Failure to record cash receipts; totals developed, and collections promptly withholding or delaying the recording of cash deposited intact. receipts. All bank accounts and cash on hand are subject Misappropriated cash or petty cash to effective custodial accountability procedures funds; diverted cash receipts; unauthorized and physical safeguards. cash disbursements; loss of funds. All transactions are promptly and accurately Covering unauthorized transactions by recorded in adequate detail records and substituting unsupported credits or fictitious appropriate reports are issued. expenditures to cover misappropriated collections; under or overestimating cash or receivables. All transactions are properly accumulated, Misstating cash balances; covering correctly classified and summarized in the unauthorized transactions by falsifying bank general ledger; balances are properly and timely reconciliation. reconciled with bank statement balances.
Office of the Controller Self-Assessment of Internal Controls Cash Receipts Cycle Objectives and Agency ____________________________ Year-End _________ Objectives Risks All collections are properly identified, control totals developed, and collections promptly deposited intact. Failure to record cash receipts; withholding or delaying the recording of cash receipts. All bank accounts and cash on hand are subject to effective custodial accountability procedures and physical safeguards. Misappropriated cash or petty cash funds; diverted cash receipts; unauthorized cash disbursements; loss of funds. All transactions are promptly and accurately recorded in adequate detail records and appropriate reports are issued. Covering unauthorized transactions by substituting unsupported credits or fictitious expenditures to cover misappropriated collections; under or overestimating cash or receivables. All transactions are properly accumulated, correctly classified and summarized in the general ledger; balances are properly and timely reconciled with bank statement balances. Misstating cash balances; covering unauthorized transactions by falsifying bank reconciliation.
NCOSC_Risk_Assessment2009ICQ_SAUCC.docx