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Objectives, Scope and Methodology
In order to assist the County in meeting its stewardship responsibilities for the public assets and
resources placed in its trust, an unannounced audit was performed of its petty cash and change
funds.
The objectives of this audit were to determine if (1) internal controls over petty cash and
change funds are operating effectively, (2) departments are in compliance with the Accounting
Policies and Procedures, and (3) reconciled balance of funds agree to the amount recorded on
the Certificate and Receipt of Imprest Funds.
To meet the objectives of the audit, the procedures performed included, but were not limited
to, the following:
•
Obtained an understanding of the Accounting Policies and Procedures as they relate to
petty cash and change funds.
•
Performed inquiries of County personnel.
•
Evaluated internal controls related to segregation of duties and safeguarding the
County’s assets; specifically for petty cash and change funds.
•
Reconciled a sample of one (1) petty cash fund and twenty-three (23) change funds and
compared the balance to the amount recorded on the Certificate and Receipt of Imprest
Funds.
•
Reviewed Cash Management training records maintained by Human Resources.
•
Validated that the electronic document retention system (OnBase) is utilized to archive
the approved Certificate and Receipt of Imprest Funds forms.
•
Identified Opportunities for Improvement.
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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
M a y 2 0 1 7