Name three risks surrounding petty cash?

Question

Farhad Ali · Answer

Risk surrounding the petty cash are 
Theft 
personal use
expense  out with out approval

marry ann panggarotan · Answer

PETTY CASH IS PETTY CASH

1) DO NOT USE IN ANY PERSONAL USE OR ANY UN AUTHORISED EXPENCE EVEN IN COMPANY EXPENCES.

2) AVOID MISTAKES OF GIVING WRONG CHANGE IN ORDER FOR YOU TO MAINTAIN COMPLAIT PETTY CASH

3) BE AWARE OF FAKE CASH FROM CUSTOMERS

4)BE AWARE OF THEFT WHO MAKE YOU LOST ALL YOUR CASH INSIDE DRAWERS

5) LACK OF CONCENTRATION MAKES YOU EXCESS CASH OR SHORTAGE....

6)AVOID TRUST ANYONE TO HANDLE YOUR PETTY CASH WITHOUT YOUR PROPER CHECKING BEFORE YOU TAKE OVER

SALIK RAFIQUE · Answer

Risk of theft
Risk of payment without authorisation (Fake Payments)
Risk of personal use

Rahil Mahtur · Answer

1.Unauthorised use of money for personal expense.

2.Infalted expense bills

3. theft

4.improper accounting[leading to shortage or excess cash]

Muhammad Nouman Shafique Awan · Answer

theft,

unauthorized use,

Abdullah zafar · Answer

Collusion between employees

misappropriation of cash by responsible staff

Overriding of controls over petty cash by mangement

manaf almas · Answer

risk of theft,
risk of personal  use
 expenses  wich are not authorised by mgt

Khalid Noor · Answer

1.
Team and lading 2.
Omission of expenses 3.
Personal use of Petty cash