a) Internal controls play an important role in reducing the risks of fraudulent activities in any...

 

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a) Internal controls play an important role in reducing the risks of fraudulent activities in any organization. Further, advanced technology helps accountants in reducing fraud. Explain how an advanced technology transaction processing system reduces fraudulent activities from any organizing. [4 Marks. Words Limit: Up to 200 words] b) Refer to the given system flowchart, and we have discussed the control weakness and the risk associated with these control weaknesses. Based on these control weaknesses and the associated risk, what types of frauds are possible in this business environment. [3 Marks. Word Limit: Up to 200 words] Sales Department Accounting Department Shipping Department Warehouse Custoner Pecking Seies Orde Sook Release Packing Sip Order Customer Order Reconcle Paing sp and Sales order, send goods Carrier, Recont in Shipe log AR S Ledger Approves cred prepare Sales documents BI Customer Update Accounts Pok Good Upd Ieory send goods Spping menry Sub ledger Shipping Log Cantrl Sales Order Sales Seck Relese Paing Sodk Sales Involoe Order Reese Pading Sip Carler Salos Order Stock Release Pecking Bng Depanvent Add prices and tas, Customer and mcord Sale Sales Invoice Jounal Sales Invoice Customer a) Internal controls play an important role in reducing the risks of fraudulent activities in any organization. Further, advanced technology helps accountants in reducing fraud. Explain how an advanced technology transaction processing system reduces fraudulent activities from any organizing. [4 Marks. Words Limit: Up to 200 words] b) Refer to the given system flowchart, and we have discussed the control weakness and the risk associated with these control weaknesses. Based on these control weaknesses and the associated risk, what types of frauds are possible in this business environment. [3 Marks. Word Limit: Up to 200 words] Sales Department Accounting Department Shipping Department Warehouse Custoner Pecking Seies Orde Sook Release Packing Sip Order Customer Order Reconcle Paing sp and Sales order, send goods Carrier, Recont in Shipe log AR S Ledger Approves cred prepare Sales documents BI Customer Update Accounts Pok Good Upd Ieory send goods Spping menry Sub ledger Shipping Log Cantrl Sales Order Sales Seck Relese Paing Sodk Sales Involoe Order Reese Pading Sip Carler Salos Order Stock Release Pecking Bng Depanvent Add prices and tas, Customer and mcord Sale Sales Invoice Jounal Sales Invoice Customer

Answer rating: 100% (QA)

a 1 It is accurate Errors are easily detected and it has a well updated set up that ensures that it ... View the full answer