1. All orders shipped are not recorded as revenue.

2. Revenue is recorded for orders not shipped or fictitious sales.

 

• Identify and define the assertion associated with each risk.
• Explain a control that would mitigate each risk. 

A new associate wants to know some of the more common controls they should expect to find within a well-designed control system.

Discuss two control activities you consider to be important for a well-design control system (think of the COSO framework).