ECIVES 12-2, 12-3) Taylor D ents. The company purchases its raw materials from various suppliers. Electronics Company is engaging in manufacturin ia description of the purchasing system of Taylor Electronic The following is 1. Product on supervisors complete a requisition ng the current level of inventory on the inventory matera which has been updated to record the minimum and maximum required levels materials. Orders cannot be made if it is outside of the range set in the inventory of raw the authorized requisition form is submitted to the purchase ordering department 2. hwhich the staff will raise sequentially numbered purchase orders,in muliple cop- em. The requisition form is then authorized by the production manager ies based on the approved supplier list. The copies are sent to: b) the accounts payable department; the selected supplier, after obtaining the authorization of the purchasing director the warehouse department It is the department's policy to update the supplier list with reference to the sup iers' quality and price on an annual basis. The purchasing director authorizes the orders prior to submitting to the selected supplier 3, Upon receipt of goods, the warehouse department verifies the quantity to the suppli- ers despatch note and the purchase order sent to the warehouse department earlier The staff in warehouse department also checks that the quality of the goods received is satisfactory. A sequentially numbered goods received note is then generated which will be sent to the accounts payable department. 4. The accounts payable department matches the goods received note (from ware- house department) with the purchase order (from purchase ordering department) and invoice (from suppliers) to ensure the agreed prices and discounts have been honoured. After the checking process, the staff initials on the invoice to indicate the matching process is completed 5. Another accounts payable clerk enters the "matched" invoices onto the purchase system in batches. In this process, the clerk uses a batch control sheet which shows the number of invoices and the total value to be entered. Such information will then be checked against the system batch report. After inputting the information into th ccounts pyable manager inspects the file of invoices on a wekly basis to ensure that al invoices have been recorded by the finance e logged director invoices are then reviewed and authorized for payment . Payments are made by the accounts department via bank transfer on a weekl me asis. After payment, the invoice will be marked as "PAID" to avoid duplicate the important controls and related purchase transaction-related audit ob the operating effectiveness of internal controls jectives. Req a. Iden List the procedures that a CPA will use in an audit of purchasing transactions in order har code scanning technologies that to