1. Explain why the Credit Department (which evaluates whether a Company should extend credit to a Customer) should not also be responsible for order processing and/or invoicing inside a Company? Be specific. 

2. Explain why members of the Purchasing Department that commit and issue purchase orders to vendors on behalf of the Company should also not be responsible for processing and payment of invoices from vendors. Be specific in your answer. Who inside of the Company should be responsible for processing and paying vendor invoices? 

3. Electronic payments, today, are a common way for one Company to pay another for goods or services received from a supplier. Many firms also set up automatic payments for certain monthly recurring payments to some suppliers, for example, for payment of monthly utility, telephone, Internet charges for essential services required by a firm. For electronic payments going through the Company’s monthly bank statement, what type of controls do you recommend that a firm implement to ensure that such payments are properly supported by vendor invoices? Be specific in your answer as to whom should do what every month.