Kids Klub is working to set up some internal controls for fu…

Written by Anonymous on February 20, 2026 in Uncategorized with no comments.

Questions

Kids Klub is wоrking tо set up sоme internаl controls for future situаtions. They plаn to have five board members, two operations staff, multiple volunteers and one finance professional employed at start up.   For each situation below identify 1) a relevant internal control, 2) if that internal control is preventative or detective, and 3) what risk is being mitigated by the control you provided.  A template for your response has been provided below. a) Kids Klub plans to set up permanent information/collection booths in local community centers to promote awareness of their programming and collect donations. (3 marks) b) Donations in kind are accepted at the front desk of their facility and they will provide tax receipts for these donations in kind. (3 marks) c) Employees and volunteers submit expense reports for cost-reimbursement. These amounts are expected to be especially high as the organization is just starting up. (3 marks)

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