Ch 16 and 17 Case study The following are misstatements that have occurred in a trading company: A purchase clerk regularly orders goods for personal use. These orders always cost less than $3,000; The company requires authorization only for purchase orders above $3,000. REQUIRED: 1. Identify one or more types of controls that were absent. 2. Identify the assertion impacted. 3. Suggesta control that may have prevented or detected the misstatement