ou recently graduated from college with your accounting degree. Your father’s best friend is the director of the accounting department of a small manufacturing firm in the area, and you accepted a position on his staff. After a month on the job, you have noticed several deficiencies in the cash controls for the company. For example, the individual making the daily deposits at the bank is also in charge of updating accounts receivable. You also notice that the petty cash fund is under general control of everyone in the office ( that means that no one person has ultimate responsibility) and that vouchers are seldom completed when cash is removed from the fund. You bring your concerns to the attention of your boss, your father’s friend, and he comments: “ I appreciate your concerns. I knew when we hired you that you were sharp, but you need to understand that not everything is done by the book here. We trust our employees. If we were to enforce rigid controls on cash, it would create a non-trusting work environment. We don’t want that. Sure, a little money may turn up missing now and then, but it is a small price to pay. Now, don’t you worry about it anymore.” What do you do now? Would you be comfortable working in an environment where there is a lack of control on cash? If a significant sum of money were to turn up missing and the control system was unable to determine who was responsible, what would that do to the trusting work environment? And remember, big sums of money never turned up missing until you came to work at the company.