Question: QUESTION 2 - Acquisition and Payments ( 9 marks ) Retail ( Pty ) Ltd is a large manufacturing company that is situated in Mbombela.

QUESTION

2 -

Acquisition and Payments

(9

marks

)

Retail

(

Pty

)

Ltd is a large manufacturing company that is situated in Mbombela. The company purchases raw materials from a large number of raw material suppliers on credit. Supplier data is stored on the creditors masterfile.

.

REQUIRED

Describe the controls that need to be in place to ensure that only authorised masterfile amendments are made and that these amendments are done accurately and completely.

(9

marks

)

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