1) Company cheques are prenumbered

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1) Company cheques are prenumbered.

2. The bank statement is reconciled monthly by the assistant controller.

3. Blank cheques are stored in a safe in the controller's office.

4 Both the controller and the assistant controller are required to sign cheques or authorize electronic payments.

5. Cheque signers are not allowed to record cash payments.

6. All payments are made by cheque or electronic transfer.

Physical controls

Segregation of duties

Assignment of responsibility

Documentation

Review and reconciliation