Kindly research or think about the basic and general processes of a Company concerning the selected transaction cycles: 1. Purchases to Disbursements 2. Revenue to Collection 3. Payroll Identify at least 5 (each transaction cycle) processes and risks associated with that process. Also identify the controls in place and documents involved, Sample:

Activity Title: Identifying Common Processes and Risks Purchases to Disbursements Process Risks (What Could Go Wrong?) Controls in Place Documents Involve Example: The requesting department must provide a Unauthorized purchase (Request without Approval of the department head Purchase request purchase requisition of the supplies needed. This proper approval) must be reviewed and approved by the department Fictitious transaction (Vendor indicated head. Further, the requesting department must may not be accredited by the Company) indicate the vendor which must be accredited by the company as well as the latest quoted price from the vendor