Kayla83

Independent verification | Finance must approve to generate saleLoan must close prior to home delivery or orderSigned shipping documents must be submitted to corporate before funding.Loan must fund before accounting records updated | Corporate review of store receipts book weeklyReceipt procedure to submit to corporate |

Description of Internal Controls

LINK

At the retail level, LINK has 3 levels of access. One for the service technician (parts, service requests and reimbursement requests), one for sales (prospect lists, credit report generation, credit application, credit file, state specific mortgage documents, and manager access (everything). The manager and administrative assistant share a login.

-Email follows the same pattern of access. All emails addressed to the generic store email address go to all employees except the service technician. All LINK access is limited to the one home center, it does not show equivalent information for nearby home centers.

Possible fixes: Manager and admin have independent access. (0 cost)

Email access should be separate from LINK. (Estimated cost of $500 for programming change)

LINK’s inventory information from all stores within the region shareable with stores in certain geographic areas. (est cost of $500 for programming change)

Money handling

Any checks or cash given to Clayton must be deposited at the local bank the same day, unless it is after business hours. In that case, the check must be deposited by 2pm the following business day. The employee who receives the check should enter it into LINK, generating a receipt, and giving one receipt to the customer.

A minimal amount of cash, usually $50, is kept in the safe for incidental expenses. The safe is in the manager’s office, and only the manager knows the access code. The manager’s office is locked unless the manager is in it, and only the manager has the key.

Checks received from closings are not processed through LINK. The functionality is available,...