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1 (11 marks) As an Accounting Information System expert, you provide consultancy services to various clients in Australia. MPS Limited is one of your clients,
1 (11 marks) As an Accounting Information System expert, you provide consultancy services to various clients in Australia. MPS Limited is one of your clients, and Miss Angela, the head of its accounting department, is concerned about the revenue cycle's business processes and data related operations. Therefore, she has recently contacted you to evaluate their revenue cycle. You asked Miss Angela to provide the system flowchart of the business activities involved in their revenue cycle. Miss Angela has prepared the following Figure 1: System Flowchart for you. Chak Figure 1. System Flowchart of the Revenue Cycle Activities Required: Describe potential internal control weaknesses in the above activities of MPS Limited. 14.5 Marks. Word Limit: Up to 150 words] ANSWER a): **Answer box will enlarge as you type b) Discuss the potential risks associated with the internal control weaknesses identified in Section (A) above. 14.5 Marks. Word Limit: Up to 150 words] ANSWER b)
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