Question: 2. Mr. Thomas founded Techvantage, Inc. in 2002, a small, 75- employee company that manufactures and sells wireless keyboards and other devices to retailers from
2. Mr. Thomas founded Techvantage, Inc. in 2002, a small, 75- employee company that manufactures and sells wireless keyboards and other devices to retailers from its Little Rock, Arkansas manufacturing plant. Techvantage saw a significant increase in revenue in its first 2 years in operation, and was unable to keep up with demand at current capacity. The company expanded its manufacturing facilities to succeed. The new plant expanded to 250 workers. Techvantage has paid little attention to the internal control procedures during this time of expansion Recently systems issues and hardware failures have recently triggered a crash in the operating system. Mr. Thomasl was deeply worried that sensitive business information was printed on the printers due to these crashes. It has also removed essential digital documents from storage devices. Malicious programs like viruses, worms, and trojan horses plagued the organization, causing severe corruption in data. company has dedicated substantial funds and resources to repairing the harm done to its operating system. The system administrators and programmers have provided users with fairly free access to the operating system due to the need to get the job done, as well as for philosophical reasons. Restricting access has been found inhibiting enterprise and preventing recovery from network failures. An open approach was seen from the beginning as an easy and successful way of ensuring that everybody received the knowledge they needed to perform their jobs. Required a. What internal control problems do you find? 10 marks b. How can Techvantage improve internal controls 10 marks
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