The accounting department at your company deals with the processing of critical documents that include invoices, purchase orders, statements, purchase requisitions, financial statements, sales quotes and sales orders. These documents must arrive at their intended destination in a secure and efficient manner.

Processing is currently done manually, which causes a negative ripple effect. Documents tend to be misplaced or delayed, becoming vulnerable to unauthorised changes or exposure of confidential information. In addition, the accounting department incurs costs, such as for pre-printed forms, inefficient distribution and storage.

a) Identify five potential risks in the sub-processes related to the processing of critical documents (invoice, purchase orders, statements, purchase requisitions, financial statements, sales quotes, and sales order). Recommend a control for each risk you identified and classify the identified control as preventive, detective, or corrective.