Question: Part B - Controls Framework and specific components of IT/Non-IT Controls Explain how the principle of separation of duties is violated in each of the

Part B - Controls Framework and specific components of IT/Non-IT Controls

Explain how the principle of separation of duties is violated in each of the following situations. Also, suggest one or more procedures to reduce the risk and exposure highlighted in each example. Enter your answers to Parts (a) and (b) below:

(i)Customers returned the clothing that they were not happy with. Instead of recording the return and the clerk put it in another bin hidden in the corner and at the end of shift, the clerk transferred to her bag and took it home.

(ii)A receiving clerk received 13 boxes of ball point pens included in the shipment. The clerk took one box aside and took it home after the shift has ended.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Part B - Controls Framework and specific components of IT/Non-IT Controls Explain how the principle of separation of duties is violated in each of the following situations. Also, suggest one or more...

I need with these problems/exercises listed below (chapters attached). You must use the chapters to fill out the guidance report which is attached. Using the data for March/April Column. Chapter...

Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...

Could I get the answers to the multiple choice section of this? Thanks! Chapter 11 Introduction to Internal Control Systems True-False Questions 1. Controls that specifically encourage operating...

Describe the types of cybercrimes facing organizations and critical infrastructures, explain the motives of cybercriminals, and evaluate the financial Explain both low-tech and high-tech methods...

Attached is a case study and format that needs to be conducted. I'm looking for someone to set up the format and give the solution for each section. Just a few lines for each portion to get the case...

this was the one before which is already done. 15/16 ew Policies how Attempt History Your answer is correct The following control procedures are used at Torres Company for over-the-counter cash...

You have just started as an entry level accountant in your small 20 bed hospital. You need to get the buy in of your board to agree to a project to help your organization stay on the cutting edge;...

A tutoring company wants to set up their database. They are trying to keep track of the following: student ID, name, grade level, the subject they need tutoring in and their contact and payment...

E10.21 (LO 4) (Depletion ComputationsOil) Federer Drilling has leased property on which oil has been discovered. Wells on this property produced 18,000 barrels of oil during the past year that sold...

Determine the major differences between U.S. GAAP and IFRS disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether either U.S....