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Opportunities for
Executive Summary
improvement
As part of the Annual Audit Plan, the Clerk of
Circuit Court and County Comptroller’s
Internal
Audit Department and Office of the Inspector
General
conducted an continuous audit of Petty
Cash and Change Funds.
Continuous Audits have narrowly defined
scopes, are conducted on a recurring basis
to identify risks and test controls, and result
in timely notification of gaps and
weaknesses.
As of March 28, 2017, the County had 48
petty cash and change funds totaling
$13,023.
Internal Audit randomly selected a sample
of 24 of the 48 petty cash and change funds
for testing.
Internal Audit validated sampled fund
balances by performing an unannounced
cash count.
Internal Audit reviewed Accounting Policies
and Procedures pertaining to petty cash
and change funds.
Previously, an audit of petty cash and
change funds was completed in November
2016 where two Opportunities for
Improvement were identified related to:
segregation of duties and daily use of
sealed deposit bags for revenue collected
.
Both of the previous
Opportunities for
Improvement
continue to be issues.
See
Opportunities for Improvement
: 1 and 2.
Non-Compliance with Accounting
Policies and Procedures
Five (5) of the 24 sampled funds were
accessible by individuals other than the
designated custodian.
Five (5) change fund locations did not have
daily revenue placed in sealed deposit bags.
Two (2) of the 24 sampled funds did not
have an audit completed at fiscal year end.
Three (3) of twenty-three (23) custodians
and two (2) of twelve (12) supervisors have
not completed cash management training
within the last year.
Three (3) of the 24 sampled funds did not
have valid Certificate and Receipt of Imprest
Funds forms.
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U n a n n o u n c e d A u d i t o f P e t t y C a s h a n d C h a n g e F u n d s
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