As the auditor of the Macintosh Company, you observed three issues that companys internal controls violate the
Fantastic news! We've Found the answer you've been seeking!
Question:
As the auditor of the Macintosh Company, you observed three issues that company’s internal controls violate the internal control objectives or components:
1. Accounts payable disbursements and are done and recorded by the same employee.
2. Finance manager can approve every payment without consulting the CFO or CEO.
3. There are some procedures that violate the laws and in the country.
Required: For each issue,
i. Identify the objective or component that was violated. (3 point per issue)
ii. How can top management resolve these issues? Explain with your own examples.
Related Book For
Auditing An International Approach
ISBN: 978-0071051415
6th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
Posted Date: