Identify the control weakness, if any, in each of the following individually independent cases and explain your reasons:

(i) Gary Wong is the internal audit (IA) chief of Golden Limited (the company). In preparing his audit plan for 2020, he has decided to carry out a review of the

effectiveness of the internal controls that are in place in the companys purchasing division. The audit programme that Gary has prepared for use in this regard has been

based on the IAs standard audit programme which has been tailored, as appropriate, in the circumstances. To ensure that the review can be carried out in a more efficient way,

Tim has sent his draft audit programme to the purchasing division head for comments.

(ii) Barry Ng is the chief internal auditor of Trendy Limited which is engaged in the manufacturing and selling of health foods. Trendy Limited has been growing rapidly

over the past few years, in particular with a number of outlets opened in South East Asia. In this connection, Barry needs to expand his internal audit team to undertake

internal control testing. He has recently recruited externally five new staff who are all, despite lack of audit and accounting experience, experienced front-line salespersons.

(iii) Adam Chan is the chief internal auditor of Lewis Limited. He is currently supervising a team of ten experienced internal audit subordinated staff. Three staff members of the

accounts payable department have recently left that manpower resource is urgently needed by this department in the short term to help handle daily transactions. The CEO

has requested Adam to send two of his people to the accounts payable department for a few weeks.

(iv) Denny Chan has been working for Silver Limited as a salesman for many years. He has built an established portfolio of long-term customers such that his relationship with

them has been well maintained. Since he knows the customers well, he has been asked to carry out the annual credit review of his customers and revise the credit limits, where

appropriate, for each of the customers.

(v) Astar Limited is a large import and export trading company with markets worldwide. To support its business, it has been using a number of banks, including local, US, Japan

and Europe based financial institutions. The company carries out bank reconciliations for all bank accounts maintained on a quarterly basis and any significant discrepancies

discovered are investigated and rectified promptly