Assessment of internal control over cash: the case of National Alcohol and Liquor Factory

Abstract

Internal control over cash is of major importance in any business enterprise since cash is a vital factor in the operation of business and many business transactions involve cash. In addition, controlling of cash is important since it is the most liquid of all assets that is vulnerable to theft or misappropriation. Due to the execution and involvement of cash and its flow in different institutions, there might have been problems life mishandling and misusage unreliable and unreal formats and documents as well as effectiveness with lack of proper timing and authority are among the problems. This study will mainly focus on some of the controlling mechanisms that might have been over looked on the internal control policies over cash in the case of National Alcohol and Liquor Factory and to give some valuable feed back to the management. To execute, our study use primary data by interviewing the factory’s stakeholders who are responsible members and review theirs cash operation manual guidelines and reports as well as different resources from company’s website.