Question: Below are three procedures that violate common internal control guidelines over the purchasing function: 1. The company has never established any written policies regarding conflicts

Below are three procedures that violate common internal control guidelines over the purchasing function: 1. The company has never established any written policies regarding conflicts of interest for its buyers. 2. The company's buyers are allowed to select suppliers without submitting a list of bidders for review. 3. The same buyers who ask suppliers to submit requests for quotations receive the suppliers' bids directly from the mailroom. For each procedure, state one problem that could arise because of the failure to follow common guidelines in the purchasing function.

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