$338$Part $2/$ THE AUDIT PROCESSUpon receipt of cash, he immediately prepares a listing of the cash and a duplicate depositslip. Cash is deposited daily. Gyders uses the listing to enter the financial transactions inthe computerized accounting records. He also contacts customers about uncollected ac$-$counts receivable. Because he is so knowledgeable about the business and each customer,he grants credit, authorizes all sales allowances, and charges off uncollectible accounts.The owner is extremely pleased with the efficiency of the company. He can run the busi$-$ness without spending much time there because of Gyders$$ effectiveness.Imagine the owner$$s surprise when he discovers that Gyders has committed a majortheft of the company$$s cash receipts. He did so by not recording sales, recording impropercredits to recorded accounts receivable, and overstating receivables.a$.$ What weaknesses in the company$$s processes might have permitted the fraud?b$.$ What suggestions do you have for changing the process to reduce the future potentialfor fraud?