Running head: BANK RECONCILIATION1Bank reconciliationStudents nameCourse number the name of courseUniversity nameInstructors nameDateBANK RECONCILIATION2Bank reconciliationThe control procedures that should be put into place to ensure the bank reconciliationfulfills its purpose of internal controlBank reconciliation is the most common control procedure. In every businessorganization, every bank statement should be reconciled immediately so that errors, irregularitycan be identified and adjustments should be done for Cash accounts (Onuoha & Amponsah,2013). Some of the control procedures that should be put in place are the separation of dutiesand periodic reconciliation.Periodic reconciliationPeriodic accounting reconciliation should be done to ensure that balances in an organizationsaccounting system match those in the banks (Onuoha & Amponsah, 2013). Therefore, bankreconciliation should be done on a monthly basis.Separation of DutiesThe function of bank reconciliation requires separation of duty. An independent person shouldbe hired to prepare reconciliations because this helps to establish separation of duties and preventfraud by requir ...
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