Question

Yardley, CPA, prepared the flowchart on the following page, which portrays the raw materials purchasing function of one of Yardley’s entities, a medium- size manufacturing company, from the preparation of initial documents through the vouching of invoices for payment. The flowchart represents a portion of the work performed on the audit engagement to evaluate internal control.

Required:
Identify and explain the control weaknesses evident from the flowchart. Include the internal control weaknesses resulting from activities performed or not performed. All documents are prenumbered.



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  • CreatedSeptember 22, 2014
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