What internal control principle is the owner violating?, Ask an Expert

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The owner of a small business in Kansas has 6 full-time employees and 15 part-time employees. The owner pays his part-time employees in cash from the register at the end of their shift, rather than by check like the full time employees. The owner's accountant has told the business owner on several occasions to pay everyone by check. The business owner says it saves him money in taxes and the employees prefer the cash. What internal control principle is the owner violating? What legal and ethical concerns of which the business owner should be made aware? What is the accountant's responsibility in this situation?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M990259

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