= Chapter 6A, Problem 1 DQ (1 Bookmark) Show all steps: 1 Problem Business rules implement internal controls. Review Table 6.1 and describe which business rules implement segregation of duties. Classily each of those business rules as obligatory, prohibited or allowed as described in Chapter 3. TABLE 6.1 Using Business Rules to Implement Internal Controls ProcessIntention Steps Partner Authority Access Controls Application Controls Place Ordor Order products from reliable suppliers at the required for orders best availablo prices to $5,000, partner meet required delivery ordoring products must records, receive tems, or and range and imit Manager approval Partnor proparing purchase ceders cannotpurchase order numbe modify product inventory control, default Systom must provido checks and must creat an audit trail not manage inventory. ay suppliers Receve Record roceipt of itoms Partner recolving itoms Partner recolving itoms Systom must only allow toms promptly and accurately must not be same partner cannot modify purchase who ordered the tems. orders or inventory partner to enter the number of toms rece records: they cannot vow s ct to range and purchase ceder quantity limit checks on quantit ordered information roceived, date of reco dofaults to current dato Assess Items Roject defective itomsPartner assessing itoms Partner assessing items record acceptance prompty and accuratoly. who ordered the toms. orders or inventory Systom must only allow partner to record the assessment date of assessmont defaults to curront date must not be same partner cannot modity purchase records Place in Inventory proper inventory locations in inventory must notinventory cannot modify where items are to be Place acceptod items in Partner placing the items Partner placing tems in Systm must specily be same partner who ordered the tems. purchase ceders. System must supply supplier return address Send Items Return dofective itoms to Manager approval Partner returning items cannot modify supplior suppliers promptly. required for defective Pay Supplior Pay suppliers accurately,Partner making payment taking cost-offective discount termns must not be partner who ordored itoms or received/ accepted Partner making payments cannot modify purchase orders and receipt Systom must supply supplier payment information and amoun of payment payment d dofaults to current date = Chapter 6A, Problem 1 DQ (1 Bookmark) Show all steps: 1 Problem Business rules implement internal controls. Review Table 6.1 and describe which business rules implement segregation of duties. Classily each of those business rules as obligatory, prohibited or allowed as described in Chapter 3. TABLE 6.1 Using Business Rules to Implement Internal Controls ProcessIntention Steps Partner Authority Access Controls Application Controls Place Ordor Order products from reliable suppliers at the required for orders best availablo prices to $5,000, partner meet required delivery ordoring products must records, receive tems, or and range and imit Manager approval Partnor proparing purchase ceders cannotpurchase order numbe modify product inventory control, default Systom must provido checks and must creat an audit trail not manage inventory. ay suppliers Receve Record roceipt of itoms Partner recolving itoms Partner recolving itoms Systom must only allow toms promptly and accurately must not be same partner cannot modify purchase who ordered the tems. orders or inventory partner to enter the number of toms rece records: they cannot vow s ct to range and purchase ceder quantity limit checks on quantit ordered information roceived, date of reco dofaults to current dato Assess Items Roject defective itomsPartner assessing itoms Partner assessing items record acceptance prompty and accuratoly. who ordered the toms. orders or inventory Systom must only allow partner to record the assessment date of assessmont defaults to curront date must not be same partner cannot modity purchase records Place in Inventory proper inventory locations in inventory must notinventory cannot modify where items are to be Place acceptod items in Partner placing the items Partner placing tems in Systm must specily be same partner who ordered the tems. purchase ceders. System must supply supplier return address Send Items Return dofective itoms to Manager approval Partner returning items cannot modify supplior suppliers promptly. required for defective Pay Supplior Pay suppliers accurately,Partner making payment taking cost-offective discount termns must not be partner who ordored itoms or received/ accepted Partner making payments cannot modify purchase orders and receipt Systom must supply supplier payment information and amoun of payment payment d dofaults to current date
