Final answer:
The controller's final step in internal controls over cash receipts by mail is to ensure that bank deposit records match the company's accounting records, which helps in accurate accounting and prevention of financial discrepancies.
Step-by-step explanation:
The final step in the process of internal controls over cash receipts by mail is typically carried out by the controller of the company. This step involves verifying that the amount of cash deposited into the bank matches what was recorded by the company as received. a. The controller would look at the bank deposit records to see the amount of cash that went into the bank. The backup for this information would usually be provided by the individual or department responsible for making the deposits, such as the cashier or the treasury department. b. To see what was recorded by the company, the controller would look at the accounting records, typically the cash receipts journal or sales ledger. These records would likely be provided to the controller by the accounting or finance department. c. This comparison ensures that all cash received by mail is accurately accounted for and deposited, and that the financial records reflect the actual cash transactions, thereby safeguarding against issues such as theft, embezzlement, or accounting errors.