Ten hard questions to ask or be asked
| 1 | Are finance-related responsibilities properly separated and managed? (See Ten hard questions 1 and 2 from the previous chapter – I make no apology for repeating this requirement.) |
| 2 | Do you have sensible and well-documented rules controlling expenditure? |
| 3 | Do you use the imprest system for petty cash? Is it properly managed? |
| 4 | Are your bank accounts properly reconciled at appropriate intervals? |
| 5 | What were the cleared and effective balances on your bank accounts at 9 a.m. this morning? |
| 6 | Do you have an approved list of suppliers? |
| 7 | How often do you review the accounts receivable aging report? |
| 8 | Are there any overdue accounts which should be chased or handed to debt collection agencies? |
| 9 | How often is your cash flow ... |
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