Choose5and explain the risks for each. 1.Processing the sales order without checking the inventory. 2.Invoice should be
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Question:
Choose 5 and explain the risks for each.
1. Processing the sales order without checking the inventory.
2. Invoice should be sent with or after the delivery.
3. No supervision or control to remove an item.
4. Verbal notifications of delivery.
5. Insufficient segregation of duties for handling the customer complaints,
processing sales returns, and access to receipts from the customers.
6. Separate systems are in used for sales and accounting.
7. No indication of periodic supervision.
Related Book For
Auditing A Practical Approach with Data Analytics
ISBN: 978-1119401742
1st edition
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
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