The COSO model identifies five brood categories and 17 principles related to internal control. You may wish to review the COSO madel using the PowerPairt included with the supplementary materials for this quiz. Then using the information in the Seven Guys Case and in the discussion of duties in the previaus problem, match the case facts to either a COSO strength or indicate these facts are not a strength or weskness in internal control. For this matching problem, there is EACH match is used ONCE. COSO Model Seven Guys Audit Case Study Ms. Ka opens the mail. She sorts the checks from custamers and the invoices from vendors into two piles. She prepares the deposit ticket for checks received from 2 customers and taloes the deposit to the bonk. A copy of the deposit listing land remittance advice documents received from custemers) goes to Mr. Carlos. Mr. Carlos records the receipts as credits to accounts receiviale. All seven guys share equally in the common stock of SG, and all are members of the board of directors. The Beard meets four times per year. Aaron and Miftsh receive ccpies of bonk statements on a quarterly 1 bosis and monitor an e-mail address avaibable for customers, vendors, and employees to repart ethical cancerns. Tong serves as SG's president, Brendan coversees the food production and services, lsaiac morbets and selfs SG's catering services, and Abdi is the controller. When the food is delivered, SG recognizes revenue and creates an imvoice for the customer. The invice terms are net, 30 -4.- days. Accordingly, expense is recognized at the point of delivery. This typically involves the recording of an irmaice from one or more restaurant vendars to accounts paryable. Mr. Abdi prepores the annual strategic plan. On a quarterly basis, Mr. Abdi compores 3.. actual cash flow to budgeted cash flow and actual expenses to budgeted expenses, as well as alignment with the strategic plan. Twice yearly, the seven guys meet to think about future trends that may affect their business. In addition, monthly staff meetings 1 -. are held so that information about customers, vendors and operations can be heard from all emplayees, including thase working clase to the customer. SG's wages and salaries are slightly below thase of large firms in the Twin Cities. However, SG's management utilizes other positive worlpplace incentives, such as frequent feedback to and from employees. _. Mr. Tang said, "this feedback indicates cur employees are trustful of our marngement team and atisfied with their work. 1. Strength in Contral Environment. 2. Strength in Risk Assesment. 3. Strength in Information and Communication. 4. Strength in Control Activities. 5. Strength in Manitaring Activities. 6. Neither a strength or weakness in internal controls. errviranment