Problem : NBC Company perform i ng to Employees in my department s for the stock or in omnil quantity. The commiss cy w Tach yces chasing department proces s from the day. To be deler TOT Vems available from the same d u rch der andere ome discounts. Purchasing agentsh o e s in der to select temet search discover a potenti e scha t he relevant in system, thereby adding the supplie d arch ers have $10.00 proved by the purchasing departmenta Dised to t h e desto suppliers, but paper purchase orders who went E cole Receiving department employees have to purchase orden. U they check the system to verify existence ot h e r to accepting delivery. im during rush periods they unload trucks and t he corner of the hot where they there is time to use the system to retrieve the le a der in such a s purchase orders found, the receiving employee contact the superior e for the goods to be returned Receiving department employees compare the guided the t ime on the purchase order. Whenever a discrepancy is greater than the reci p eye send email to the pures department manager. The receiving employee s to the quantity received before moving the material to the inventory stores department Inventory is stored in a locked room. During normal business hours an inventory employee s any employee wearing an identification badge to enter the stroom and remove needed sem inventory storeroom employee counts the quantity removed and enters that information in one terminal located in the storeroom. All supplier invoices (both regular and one time) are routed to accounts payable for review and approval. The system is configured to perform an automatic 3-way match of the supplier invoice with the Corresponding purchase order and receiving report. Each Friday, approved supplier invoices that are due within the next week are routed to the treasurer's department for payment. The cashier and treasures are the only employees wuthorized to disburse funds, either by EFT or by printing a chock. Checks are printed on dedicated printer located in the treasurer's department, using special stock paper that is stored in a locked cabinet accessible only to the treasurer and cashier. The paper checks are sent to accounts payable to be mailed to supplier Monthly, the treasurer reconciles the bank statements and investigates any discrepancies with recorded cash balances. REQUIRED: Identify five internal control threats apparent in this scenario and five controls to address the threats. Problem : NBC Company perform i ng to Employees in my department s for the stock or in omnil quantity. The commiss cy w Tach yces chasing department proces s from the day. To be deler TOT Vems available from the same d u rch der andere ome discounts. Purchasing agentsh o e s in der to select temet search discover a potenti e scha t he relevant in system, thereby adding the supplie d arch ers have $10.00 proved by the purchasing departmenta Dised to t h e desto suppliers, but paper purchase orders who went E cole Receiving department employees have to purchase orden. U they check the system to verify existence ot h e r to accepting delivery. im during rush periods they unload trucks and t he corner of the hot where they there is time to use the system to retrieve the le a der in such a s purchase orders found, the receiving employee contact the superior e for the goods to be returned Receiving department employees compare the guided the t ime on the purchase order. Whenever a discrepancy is greater than the reci p eye send email to the pures department manager. The receiving employee s to the quantity received before moving the material to the inventory stores department Inventory is stored in a locked room. During normal business hours an inventory employee s any employee wearing an identification badge to enter the stroom and remove needed sem inventory storeroom employee counts the quantity removed and enters that information in one terminal located in the storeroom. All supplier invoices (both regular and one time) are routed to accounts payable for review and approval. The system is configured to perform an automatic 3-way match of the supplier invoice with the Corresponding purchase order and receiving report. Each Friday, approved supplier invoices that are due within the next week are routed to the treasurer's department for payment. The cashier and treasures are the only employees wuthorized to disburse funds, either by EFT or by printing a chock. Checks are printed on dedicated printer located in the treasurer's department, using special stock paper that is stored in a locked cabinet accessible only to the treasurer and cashier. The paper checks are sent to accounts payable to be mailed to supplier Monthly, the treasurer reconciles the bank statements and investigates any discrepancies with recorded cash balances. REQUIRED: Identify five internal control threats apparent in this scenario and five controls to address the threats
