Identify and describe [briefly] five weakness and the assertions at risk. Locate them on the flowchart.

The sheet entitled 'FLOWCHART' is the corrected version of FIG 11.1, with some liberties taken to make sense of the authors' attempt. Assume that it correctly descrigbes the client's Sales/Accounts Receivable procedures. The system described in that flowchart contain at least ten weaknesses [documentation, sequence of procedures, etc] Identify and describe [briefly] five weakness and the assertions at risk. Locate them on the flowchart. DO NOT BE CONCERNED WITH THE DATA PROCESSING OR OPERATIONS CONTROL ACTIVITIES. PLACE AN 'X' UNDER THE AFFECTED ASSERTION[S] AT RISK IN THE ROW FOR EACH IDENTIFIED WEAKNESS WEAKNESS DESCRIPTION 1 2 3 4 5 Copy the numbered red circles and paste to the locations on the flowchart Existence or Occurrence Completeness Valuation or Allocation Accuracy Cutof SALES CREDIT FINISHED GOODS SHIPPING Customer BILLING Sales Order 2ales Order B Customer's Purchase Order 1 Customer's Purchase Order A E # A Prepare Sales Order Approved Sales Order 3Sales Order A/R aginger Customer's Purchase Order Filed by by S/O # pending receipt of merchandise Customer's Purchase Order Sales Order 1ales Order Sales Order 2Sales Order 1 B Approve Credit * 2Sales Order Sales Order Sales Order 3Sales Order 4Sales Order 5Sales Order Sales Order 6Sales Order Customer's Purchase Order 3 Customer *Credit rejection not described in this flowchart # Approved Sales Order 4Sales Order 3 Prepare Bill of Lading & ship merchandise Approved Sales Order 4Sales Order NOTE: All documents are prenumbered # Fle by S/O # pending notice of shipment 1 Release Goods for Shipping Filed by Order Number # 1 Filed by Order Number 2Sales Order 3Sales Order Bill of Lading 4Sales Order Sales Order 2Sales Order Approved Sales Order 3ales Order Customer's Purchase Order Customer Shipper # Sales Order 1ales Order Approved Sales Order 3ales Order Bill of Lading 1Sales Order Filed by order # until end of day Filed by Order Number C U S T O M E R # P A Y M E N T S Customer's Purchase Order AT END OF DAY Sales Order 1ales Order Approved Sales Order 3ales Order Bill of Lading 1Sales Order C Calculates batch total and records in log Control total logOrder Enters sales transactions in batches Data entry D Customer's Purchase Order Sales Order 1ales Order Approved Sales Order 3ales Order Bill of Lading 1Sales Order # Filed by Order Number Custome REMITTAN ADVICE WI CHECK DATA PROCESSING OPERATIONS CONTROL BILLING PROGRAM D C Control totals &exception report Control total logOrder Sales transactions file Sales invoiceer Customer Compare computer control totals to log & investigate exceptions Control totals &exception report Control total logOrder ACCOUNTS RECEIVABLE UPDATE PROGRAM Customer D REMITTANCE ADVICE WITH CHECK Data entry A/R aginger A/R MASTER FILE E File by Date