International Imports is an importer of silver, brass, and furniture items from France. Elaine Spencer is the general manager of International Imports. Spencer employs two other people in the business. Marie Walsh serves as the buyer for International Imports. In her work Walsh travels throughout France to find interesting new products. When Walsh finds a new product, she arranges for International Imports to purchase and pay for the item. She helps the French artisans prepare their invoices and then faxes the invoices to Spencer in the company office.
Spencer operates out of an office in Brooklyn, New York. The office is managed by Donna Durkin, who handles the mail, keeps the accounting records, makes bank deposits, and prepares the monthly bank reconciliation. Virtually all of International Imports cash receipts arrive by mail from sales made to Target, Crate and Barrel, and Williams-Sonoma. Durkin also prepares checks for payment based on invoices that come in from the suppliers who have been contacted by Walsh. To maintain control over cash payments, Spencer examines the paperwork and signs all checks.

Requirement
1. Identify all the major internal control weaknesses in International Imports system and how the resulting action could hurt International Imports. Also state how to correct each weakness.