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Based on the scenario provided below, discuss the following questions. Note that your answers have to be very specific to this context. Otherwise, no points

Based on the scenario provided below, discuss the following questions. Note that your answers have to be very specific to this context. Otherwise, no points can be given.

  1. What are the potential internal control weaknesses in this company? Why? Discuss in details. (5 points)
  2. What are the related internal control components and principles in this scenario? Explain clearly. (5 points)
  3. Given the potential internal control weaknesses and the components/principles, what can the company do to mitigate the risks? Explain and discuss clearly. (5 points)

A companys accounting information system was hacked, and customers personal information was stolen. The manager discovered that the systems security is weak because the IT department employees are not systems security experts and fail to assess the risks and monitor the system regularly. To resolve this issue, the company hired an experienced systems security expert.

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