a. Create a data flow diagram of the current system. b. Create a system flowchart of the
Question:
a. Create a data flow diagram of the current system.
b. Create a system flowchart of the existing system.
c. Analyze the internal control weaknesses in the system. Model your response according to the six categories of physical control activities specified in the SAS 78/COSO control model.
d. Prepare a system flowchart of a redesigned computer-based system that resolves the control weaknesses you identified. Explain your solution.
SAGA Fly Fishing, Inc., is a manufacturer of high- quality fly-fishing equipment that includes rods, reels, fly lines, nets, drift boats, waders, and other equipment. It also produces low-end and moderately priced spinning rods and saltwater fishing equipment, which it sells under a different brand name to protect the high-quality image associated with its fly-fishing division. Its home office/fly-fishing production plant is located near Manchester, New Hampshire. The spinning and saltwater manufacturing plants are in upstate New York. In total, SAGA employs 1,500 workers. SAGA distributes its products worldwide through three distribution centers. Sales are currently S200 million per year and growing.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Step by Step Answer:
a b d See diagrams on the following pages c Internal Control Weaknesses Many changes had to be made to the conversion cycle at SAGA Inc to ensure adequate control procedures in accordance with SAS 78 ...View the full answer
