(accounting information system)

each of the following threats, identify applicable control procedures in the expenditure or revenue cycle. (4 Marks each)

1: Errors in the inventory master data resulting in production delays due to unanticipated shortages of key materials and leading to lost sales and reduced customer satisfaction.

2: Theft of goods by receiving clerk.

3: Purchasing goods at inflated prices that were of inferior quality when attempting to obtain the lowest possible prices.

4: Making a credit sale to a customer who has bad payment histories.

5: Inaccuracies in vendor invoices resulting from discrepancies between quoted and actual prices charged.