Question

The flowchart in Figure was prepared by a CPA to portray the raw materials purchasing function of one of her clients, a medium- sized manufacturing company, from preparing initial documents through vouching for invoices for payment in accounts payable. The flowchart was a portion of the work performed on the audit engagement to evaluate internal control.



Required
Identify and explain the systems and control weaknesses evident from the flowchart. Include the internal control weaknesses resulting from activities performed or not performed. All documents arepre-numbered.


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  • CreatedFebruary 26, 2015
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