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3.7 Sherville Racquet Club would like to expand their existing suite of organisational guidelines and procedures to ensure their financial statements are accurately prepared. The new policies include: • Finance Authorisations Policy • Bank Account Policy and Procedure • Petty Cash Policy • Purchasing Policy • Stock Control Policy • Customer Credit Limit Policy Conduct your own research to identify the key features of the above policies. The Access Business Victoria's Financial policies and procedures manual template may assist you. If this link is not available, conduct an internet search on financial policies and procedures. Based on your research, match the relevant policies and procedures listed above with the correct key feature description in the table below. You should only include one policy/procedure for each feature. Feature Who can approve purchasing of stock, payment for goods, authorise new customers, and suppliers Sets out the requirements for use of bank accounts, including opening, closing authorisation, variations to terms and conditions, reconciliation of bank accounts and bank account transactions. Provides guidelines for the purchase of goods, services, equipment and assets for the business. Policy/procedure

3.7 Sherville Racquet Club would like to expand their existing suite of organisational guidelines and procedures to ensure their financial statements are accurately prepared. The new policies include: • Finance Authorisations Policy • Bank Account Policy and Procedure • Petty Cash Policy • Purchasing Policy • Stock Control Policy • Customer Credit Limit Policy Conduct your own research to identify the key features of the above policies. The Access Business Victoria's Financial policies and procedures manual template may assist you. If this link is not available, conduct an internet search on financial policies and procedures. Based on your research, match the relevant policies and procedures listed above with the correct key feature description in the table below. You should only include one policy/procedure for each feature. Feature Who can approve purchasing of stock, payment for goods, authorise new customers, and suppliers Sets out the requirements for use of bank accounts, including opening, closing authorisation, variations to terms and conditions, reconciliation of bank accounts and bank account transactions. Provides guidelines for the purchase of goods, services, equipment and assets for the business. Policy/procedure

Auditing: A Risk Based-Approach to Conducting a Quality Audit
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor
Section: Chapter Questions
Problem 21MCQ
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3.7 Sherville Racquet Club would like to expand their existing suite of organisational guidelines and procedures to ensure their financial statements are accurately prepared. The new policies include: • Finance Authorisations Policy • Bank Account Policy and Procedure • Petty Cash Policy • Purchasing Policy • Stock Control Policy • Customer Credit Limit Policy Conduct your own research to identify the key features of the above policies. The Access Business Victoria's Financial policies and procedures manual template may assist you. If this link is not available, conduct an internet search on financial policies and procedures. Based on your research, match the relevant policies and procedures listed above with the correct key feature description in the table below. You should only include one policy/procedure for each feature. Feature Who can approve purchasing of stock, payment for goods, authorise new customers, and suppliers Sets out the requirements for use of bank accounts, including opening, closing authorisation, variations to terms and conditions, reconciliation of bank accounts and bank account transactions. Provides guidelines for the purchase of goods, services, equipment and assets for the business. Policy/procedure
Transcribed Image Text:3.7 Sherville Racquet Club would like to expand their existing suite of organisational guidelines and procedures to ensure their financial statements are accurately prepared. The new policies include: • Finance Authorisations Policy • Bank Account Policy and Procedure • Petty Cash Policy • Purchasing Policy • Stock Control Policy • Customer Credit Limit Policy Conduct your own research to identify the key features of the above policies. The Access Business Victoria's Financial policies and procedures manual template may assist you. If this link is not available, conduct an internet search on financial policies and procedures. Based on your research, match the relevant policies and procedures listed above with the correct key feature description in the table below. You should only include one policy/procedure for each feature. Feature Who can approve purchasing of stock, payment for goods, authorise new customers, and suppliers Sets out the requirements for use of bank accounts, including opening, closing authorisation, variations to terms and conditions, reconciliation of bank accounts and bank account transactions. Provides guidelines for the purchase of goods, services, equipment and assets for the business. Policy/procedure
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