A bar chart shows that when Henry is the AR Clerk and Frank is the Cash Receipts Clerk, Connie is the GL Accounting Clerk for $226,851 of current AR balances. However, there are $25,352 of current AR for which Henry acted as both AR Clerk and GL Accounting clerk. This shows that employee Henry occasionally acts in multiple roles on the same transaction.

Note 1: The dollar value of accounts receivable for which Henry acted as both AR clerk and Cash Receipts Clerk is $343.

Note 2: When Sam is the Cash Receipts clerk, the dollar value of accounts receivable for which Henry acted as both AR Clerk and GL Accounting clerk is $7,491.

Note 3: The total dollar volume of AR that was not approved is $13,726.

Based on results from Note 1, 2 & 3 above:

What role does materiality play in classifying the type of control deficiencies identified above?

Answer rating: 100% (QA)

In the given situation one employee acts in multiple roles in the same transaction It means that a s... View the full answer