Identify and explain FIVE DEFICIENCIES and provide a recommendation to address each of these deficiencies.

Note: Prepare your answer using two columns headed Control deficiencies and Control recommendation respectively.

Murray case study: Sales cycle Ordering For all new customers, a sales manager completes a credit application which is checked with a credit agency and a credit limit is entered into the sales system by the credit controller. Credit checks are not reperformed unless a customer requests an increase to their credit limit. If an increase is requested, a new check will be performed and the credit limit revised. The orders are entered into the sales system by a sales assistant. After the order has been accepted, the sales assistant checks that the goods are available and that the order will not take the customer over their credit limit. Goods despatch When the warehouse receives the order, a goods despatch note (GDN) is generated and a member of the warehouse team packs the goods using the GDN. A second member of the team double checks the details on the GDN to the goods packed, signing the GDN to evidence the check. Four copies of the GDN are produced. One copy is sent with the goods and retained by the customer. A second is sent with the goods, signed by the customer and returned to Murray Co to confirm receipt of the goods which is filed in the warehouse. A third copy is sent to the sales team who update the system and the fourth copy is sent to the accounts department. Invoicing Sales invoices are raised by the accounts department using the GDNs. Sales invoices are not sequentially numbered, and no review is performed to ensure all goods have been invoiced. Sales invoices are prepared using the approved company price list, which is updated quarterly. Payment terms are stated on the sales invoice and all customers have 10 days to pay their invoice. Discounts must be requested by a sales manager and authorised by the sales director to allow the accounts team to raise an invoice. Recording transaction The receivables ledger is reviewed for credit balances by the senior accountant on a monthly basis and the receivables ledger is reconciled with the receivables ledger control account when the sales ledger manager has time. Monthly customer statements are sent to customers. Cash receipt Receipts are counted by the office assistant, recorded by the cashier in the cash book, and the sales ledger clerk is notified of the receipt. The sales ledger clerk agrees the amount received to the amount invoiced and marks the invoice as paid. The credit controller reviews the aged receivables analysis on a fortnightly basis to assess the level of slow moving debts and an allowance is made for any debts which are considered doubtful. Debts which are more than six months overdue are chased up