Each of the following situations reveals an internal control weakness: (Click on the icon to view the situations.) Requirements 1. Identify the missing internal control characteristic in each situation 2. Identify each organization's possible problem. 3. Propose a solution to the problem. Situation a. Jake Bates has been an employee of the city of Elmhurst for many years. Because the city is small, Bates performs all of its accounting duties Situations Requirement 1. Missing Control Characteristic: Separation of duties Requirement 2. Possible Problem: Jake Bates has been an employee of the city of Elmhurst for many years. Because the city is small, Bates performs all of its accounting duties, in addition to opening the mail and preparing bank deposits and bank reconciliations. Requirement 3. Potential Solution: Situation b. A purchasing agent for Mark Manufacturing is responsible for buying diamonds for use in the company's manufacturing process, approving the agent's work b. A purchasing agent for Mark Manufacturing is responsible for buying diamonds for use in the company's manufacturing process, approving the invoices for payment, and signing the checks. No supervisor reviews the purchasing agent's work Requirement 1. Missing Control Characteristic: Bailey Price owns an architectural firm. Price's staff consists of 16 professional architects, and Price manages the office. Often her work requires her to travel to meet with clients. During the past six months, Price has observed that when she returns from a business trip, the architecture jobs in the office have not progressed satisfactorily. She learns that when she is away, two of her senior architects take over office management and neglect their normal duties. One employee could manage the office c. Requirement 2. Possible Problem Requirement 3. Potential Solution: Situation c. Bailey Price owns an architectural firm. Price's staff consists of 16 professional architects, and Price manages the office. Often her work require when she returns from a business trip, the architecture jobs in the office have not progressed satisfactorily. She learns that when she is away, two of her ser employee could manage the office. Requirement 1. Missing Control Characteristic: Print Done Requirement 2. Possible Problem: Requirement 3. Potential Solution: Click to select your answer(s) ? Save for Later