Question: (2marks) Part C Benny has worked for Lau & Lee Co., a local law firm for several years. He is an associate and needs to
(2marks) Part C Benny has worked for Lau & Lee Co., a local law firm for several years. He is an associate and needs to work long hours. He hasn't taken a vacation in the last three years. Benny is responsible for opening the mail and listing the checks received. He also takes cash from clients after their visits. Sometimes Benny doesn't bother giving each client a receipt for the cash received from their accounts. When he is free, he offers his help to the firm's accountant to post the cash receipts to the clients' accounts receivable and the accountant is happy with his help. Required: Explain and illustrate how the principles of internal control may be violated in this law firm. Please limit your answer to 250 words. (5 marks) Part D You are the accounting manager of Banana Supermarket. One day, the CEO of the supermarket told you "Our supermarket needs internal controls because we cannot trust our employees." Required: Do you agree? Why? How internal control concepts could be applied to the supermarket. Explain and illustrate your answer with example(s). Please limit your answer to 250 words
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