Franco Company is a rapidly growing start-up business. Its recordkeeper, who was hired one year ago, left town after the company's manager discovered that a large sum of money had disappeared over the
past six months. An audit disclosed that the recordkeeper had written and signed several checks made
payable to her fiancé and then recorded the checks as salaries expense. The fiancé, who cashed the checks
but never worked for the company, left town with the recordkeeper. As a result, the company incurred
an uninsured loss of $184,000. Evaluate Franco's cash control system and indicate which guidelines of
cash control appear to have been ignored.