Accounting 101 · 7 Dec 2020 0

What does it mean by “Maximum Cash Accountability” for purposes of Fidelity Bond?

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Question: Hello po gabotaf, good evening.

Accountable Officer is bonded as disbursing officer. Maximum cash accountbility po is 100,000 but the AO was given a cash advance of 120,000.

What violation was committed?

If error was done in good faith ( nakaligtaan na 100k pala ang max), ano po pwedeng remedies?

Subject for disallowance po ba agad?

Thank you po.

More forums concerning #FidelityBond: https://gabotaf.com/search_gcse/?q=Fidelity%20Bond

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