Question A,B,C,D

Required a) Explain what is meant by the control environment and identify FOUR (4) key features of the control environment. (8 marks) b) What is the likely impact of the control environment on accounting systems? (5 marks) c) Identify FOUR potential control problems arising in the purchasing cycle and specify the potential losses that might occur if control fails. (6 marks) d) For each of the activities identified in c) provide an example of what might occur if the control is not in place and list one or more factors that could cause the exposure to risk to be particularly high in particular organizations that you may be auditing