Treasury Analyst Mock Interview
Master 25 Treasury Analyst interview questions covering cash management, forecasting, and risk assessment.
Question 19 of 25
What are some internal controls related to cash?
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Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.
Internal controls over cash aim to ensure cash doesn't go missing, either by accident or intentionally via theft. Some common controls include: reconciling cash regularly, keeping all physical cash under lock and key, not sharing passwords, requiring regular password changes, documenting transfers, and recording cash receipts when received.
Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.
"Internal controls help a company safeguard one of their most coveted assets. Preventing misappropriation of cash, when intentional or accidental, is of utmost importance to an organization. Some examples of controls related to cash include keeping physical cash and banking records in a secure location, requiring regular password updates and not sharing passwords, documenting all receipts, payments and transfers, and having more than one person perform cash duties to institute segregation of duties."
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