Question 3 [15 marks] Internal controls This question continues on from question 1 and question 2 above. It is now July 2020, and Mr and Mrs Wheeler have been very successful in growing the business of Little Red Riding. The business now operates at 3 markets in the region, and employs 4 employees (Mr and Mrs Wheeler sell bicycles at one local market each week, and 2 employees are assigned to sell bicycles at the Bidgee Markets, and 2 employees are assigned to sell bicycles at the Junee markets). @ 25% O il vodafone AU 4G 3:23 am Personal Hotspot: 1 Connection Kat the business actu ... vyvvvv vim.gov.yurvu. You review their inventory worksheets, and there are no errors in their worksheets... so it appears that cash takings and/or some bicycle have been stolen. You also review the three cash receipt books (one used at each of the three markets), and the amount of cash takings banked for the year was $300 less than the takings as per the cash receipt books. Mr and Mrs Wheeler are unsure what has happened. .vodafone AU 4G 323 a @ 25%O Required: Undertake some research on internal controls and employee theft. Prepare a business report on internal controls for Mr and Mrs Wheeler. In your business report: Explain what internal controls are, and the importance of implementing internal controls to safeguard the business's assets; Discuss the risk of employee theft, and how big of a problem employee theft is in Australia; Explain three possible ways that employees could have stolen cash and/or bicycles from the business without Mr and Mrs Wheeler realising; Discuss three controls/procedures that Mr and Mrs Wheeler should implement in their business to help prevent employee theft