9.2 Cash safe verification

9. MANAGEMENT PROCEDURES

Ensure the safety, security, and proper tacking of all cash, cash access, and cash handling procedures

Scope:

Related Documents:

9.1 – 9.13; 11.1 – 11.12

9.2 Cash safe verification

Purpose: Cash safe audit is a process where the auditor verifies the existence and working condition of the cash safe and compares the petty cash allotted to each Boutique against the affidavit. During this process, the auditor looks for discrepancies, if any, and reports them to management.

Authorized auditors:

 Boutique manager/in charge

 Area Manager

 Senior Operations Manager

 Retail/LP Auditor

Audit procedure:

1. Physically count the cash and record the denominations in the audit format.

2. Verify the petty cash affidavit for its authentication.

3. Verify the petty cash expenses summary prepared against the expense vouchers and record it in the audit format to ensure that the expense vouchers fall under the SOP guidelines. 4. Reconcile the physical cash counted and expenses recorded with the amount recorded in the affidavit.

5. Collect remarks/comments from the Boutique Manager/In charge.

6. Auditor will verify the safekeeping of manual invoice books, cash sales and advance from the customer and other valuables in the cash safe. 7. Auditor will verify the cash safe lock system and passwords to make sure that it is working properly and updated.

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Documents/checklists for reference:

1. Cash audit format.

2. Petty cash affidavit.

3. Expenses summary sheet.

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