Review the Marco project to evaluate their control environment strengths and weaknesses. For each strength, provide...

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Review the Marco project to evaluate their control environment strengths and weaknesses. For each strength, provide a short description of the activity or feature you believe is a strength and then explain how it strengthens their control environment. For each weakness, provide a description of the activity or feature that you believe is a control environment weakness, an explanation of how it weakens the control environment, and a recommended improvement. Limit your answer to three major strengths and three major weaknesses. I have provided one example of each in the template file, and you need to add three more strengths and three more weaknesses to the table in the template file. Review their specific controls over sales and collections (i.e., based on the Sales and Collection Processing section of the project) and purchases and payments (i.e., based on the Purchasing and Payments Processing section of the project) to evaluate transaction control weakness. Describe the control weakness (a short statement of weakness): Describe how the weakness could create a material error in the financial statements including which general ledger accounts and audit objective might be affected (be clear on which category is involved, balance, transaction, or presentation and disclosure) and provide an explanation of how the weakness might lead to a violation of the audit objective. Make a recommendation on how their controls could be improved to mitigate this weakness; and Discuss some potential weaknesses in the control you suggest (e.g., how it might be overridden). Review the Marco project to evaluate their control environment strengths and weaknesses. For each strength, provide a short description of the activity or feature you believe is a strength and then explain how it strengthens their control environment. For each weakness, provide a description of the activity or feature that you believe is a control environment weakness, an explanation of how it weakens the control environment, and a recommended improvement. Limit your answer to three major strengths and three major weaknesses. I have provided one example of each in the template file, and you need to add three more strengths and three more weaknesses to the table in the template file. Review their specific controls over sales and collections (i.e., based on the Sales and Collection Processing section of the project) and purchases and payments (i.e., based on the Purchasing and Payments Processing section of the project) to evaluate transaction control weakness. Describe the control weakness (a short statement of weakness): Describe how the weakness could create a material error in the financial statements including which general ledger accounts and audit objective might be affected (be clear on which category is involved, balance, transaction, or presentation and disclosure) and provide an explanation of how the weakness might lead to a violation of the audit objective. Make a recommendation on how their controls could be improved to mitigate this weakness; and Discuss some potential weaknesses in the control you suggest (e.g., how it might be overridden).