Question: Using the Inventory System Notes: a) Identify three weaknesses in the internal controls described. Discuss the implications of each of the weaknesses you have identified.

Using the Inventory System Notes:

a) Identify three weaknesses in the internal controls described. Discuss the implications of each of the weaknesses you have identified.

b) Assume your IT audit division is to perform testing of controls for the inventory systems described. Identify two tests that you would recommend they perform.

c) Identify two Computer Assisted Audit Techniques (CAATs) that you would request the IT auditors run to assist you in testing the valuation of inventory.

Using the Inventory System Notes:a) Identify three weaknesses in the internal controls

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