Mr. X is the supervisor for a dry cement packaging company. His work crew is composed of unskilled workers who load large transport trucks with bags of cement, gravel, and sand. The work is hard, and the employee turnover rate is high. Employees record their attendance on separate time cards. Mr. X authorizes payroll payments each week by signing the time cards and submitting them to the payroll department. Payroll then prepares the paychecks and gives them to Mr. X, who distributes them to his work crew." Is there an internal control issue or none? Justify your answer.
Mr. X is the supervisor for a dry cement packaging company. His work crew is composed of unskilled workers who load large transport trucks with bags of cement, gravel, and sand. The work is hard, and the employee turnover rate is high. Employees record their attendance on separate time cards. Mr. X authorizes payroll payments each week by signing the time cards and submitting them to the payroll department. Payroll then prepares the paychecks and gives them to Mr. X, who distributes them to his work crew." Is there an internal control issue or none? Justify your answer.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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"Mr. X is the supervisor for a dry cement packaging company. His work crew is
composed of unskilled workers who load large transport trucks with bags of
cement, gravel, and sand. The work is hard, and the employee turnover rate is
high. Employees record their attendance on separate time cards. Mr. X
authorizes payroll payments each week by signing the time cards and submitting
them to the payroll department. Payroll then prepares the paychecks and gives
them to Mr. X, who distributes them to his work crew."
Is there an internal control issue or none? Justify your answer.
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