Please do not make it the same answer as other Chegg answers. Make it short and simple.

Required: 1. Describe the risks associated with the system depicted in the flowchart below. 2. Describe the physical controls needed to mitigate each risks. Purchases Department Receiving Department Central Computer Facility Account Payable Department Warehouse Packing Slip D Vendor PO Invoice Rec Reprt Identify Items and Select Vendor Prepare Receiving report Accounting System Packing slio Reconcile documents and set up Liability Reconcile and Upolate Inventory Rec Reprt PO Rec Reprt Records Rec Reprt PO Invoice D Mccount ayable PO Ret Rept Vendor Required: 1. Describe the risks associated with the system depicted in the flowchart below. 2. Describe the physical controls needed to mitigate each risks. Purchases Department Receiving Department Central Computer Facility Account Payable Department Warehouse Packing Slip D Vendor PO Invoice Rec Reprt Identify Items and Select Vendor Prepare Receiving report Accounting System Packing slio Reconcile documents and set up Liability Reconcile and Upolate Inventory Rec Reprt PO Rec Reprt Records Rec Reprt PO Invoice D Mccount ayable PO Ret Rept Vendor