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Sample Internal Audit Report

The audit report summarizes the results of a cash controls audit conducted at Your Health Care System (YHCS). YHCS cashiers collect over $100,000 in cash daily across 14 locations. The audit evaluated cash handling processes and transactions over a six month period. Key findings include that daily cash deposits were not always timely, and there were no controls to ensure cashiers attempted to collect payment at the point of service. The audit also found safeguarding of cash to be satisfactory but identified room for improvement in making timely deposits and maximizing point of service collections. Management agreed with the findings and outlined actions to address issues such as developing cash collection procedures, training cashiers, and monitoring performance.

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Raashid Saigol
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2K views

Sample Internal Audit Report

The audit report summarizes the results of a cash controls audit conducted at Your Health Care System (YHCS). YHCS cashiers collect over $100,000 in cash daily across 14 locations. The audit evaluated cash handling processes and transactions over a six month period. Key findings include that daily cash deposits were not always timely, and there were no controls to ensure cashiers attempted to collect payment at the point of service. The audit also found safeguarding of cash to be satisfactory but identified room for improvement in making timely deposits and maximizing point of service collections. Management agreed with the findings and outlined actions to address issues such as developing cash collection procedures, training cashiers, and monitoring performance.

Uploaded by

Raashid Saigol
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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Office of Internal Audit

To: Dallas Institute of Internal Auditors


Date: October 5, 2006
Audit Report
Cash Controls
Your ealth Care !"ste#
Report Date: Au$ust 2%, 2006
Distribution &ist:
'ic(e" 'ouse
Donald Duc(
Cash Controls Audit
)*)C+TI,) !+''ARY
-AC./RO+0D
Your Health Care System (YHCS) cashiers accept cash for services provided at each facility. On a daily basis
over $!"!!! is collected by cashiers at #! different locations.
!CO1)
$he scope of the audit includes%
Cash handlin& processes in the cashier's office
$ransactions for the si( month period ended )une *!" #!!+
O-2)CTI,)! A0D R)!+&T!
$he audit evaluated the ade,uacy of controls and processes to achieve -ey business ob.ectives as it related to
cashiers receivin& payments. /ollo0in& are the business ob.ectives and related control assessment (Satisfactory"
1eeds Improvement" 2nsatisfactory) and a summary of &ood and 0ea- controls noted in the audit.
-usiness Ob3ecti4e Control Assess#ent
Safe&uard cash collections !atisfactor"
3a-e timely deposits of daily collections 0eeds I#pro4e#ent
3a(imi4e point of service collections by cashiers +nsatisfactor"
5Control !u##ar"
/ood Controls 6ea( Controls
5aily cash receipts are stored in a loc-ed safe in
the main cash office. (Ob.. 6)
7eys to the cash office safe are maintained on the
cashiers' 0rist or in a loc-ed dra0er. (Ob.. 6)
A bonded courier service pic-s of daily cash
receipts everyday for the company ban-. (Ob.. #)
5aily cash receipts in one office are deposited
0ee-ly instead of daily. Cash on hand 0as
minimal. (Ob.. #)
Cash collection &oals 0ere belo0 established
thresholds for the last three ,uarters. Cash office
employees 0ere not -no0led&eable of point of
service procedures for attemptin& to collect
amounts due on the date of service. (Ob.. *)
$here 0ere no controls in place to ensure cashiers
attempted to collected payment 0hen services
0ere provided. (Ob.. *)
O-!)R,ATIO0! A0D ACTIO0 1&A0
/ollo0in& is a table detailin& all the observations from the audit alon& 0ith mana&ement's action plan to address
these issues.
Office of Internal Audit 6
Cash Controls Audit
D)TAI& O-!)R,ATIO0! A0D ACTIO0 1&A0
Obser4ation 78
Ris( Ran(in$ ')DI+'
$here 0ere no controls in place to ensure cashiers attempted to collected payment 0hen services 0ere provided.
Additionally" Cash collection &oals 0ere belo0 established thresholds for the last three ,uarters. Cash office
employees 0ere not -no0led&eable of point of service procedures for attemptin& to collect amounts due on the
date of service.
Reco##endation
5evelop and implement procedures to educate cashiers of point of service cash collections. 5ocument
procedures in 0ritten policies and procedures and ma-e accessible to all cash collection employees. 3onitor
cash collection results to identify 0here tar&eted trainin& is necessary.
Action 1lan
1erson Responsible 2ohn Doe
)sti#ated Co#pletion
Date
829:8906
Cash mana&ement &enerally a&rees 0ith Internal Audit's findin&s. 8e have developed and approved policies
and procedures to provide &uideline for our cashier's to collect. 8e have be&un trainin& at each location 0hich is
scheduled to be completed by 6#9*69!+. 8e 0ill monitor cash collection results and provided tar&eted trainin& to
those individuals not meetin& established &uidelines.
Office of Internal Audit 6

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