The following control activities exist at ABC Company 1. All internal control weaknesses must be presented to the audit committee by management and/or internal auditors. Corrective actions must be documented. 2. At the end of the year, the controller reviews all monthly bank reconciliations for the year and documents corrective actions for any exceptions noted. 3 All procedures and policies related to hiring and promotion are documented and reviewed by management semi-annually. Follow up procedures after the review are documented 4 A whistleblowing system is established at a company's website where suspected fraud can be anonymously reported by any employee or external party. Each report must be investigated 5. All employees are evaluated semi-annually by their supervisors; the results of the evaluations are retained on file. 6. Every employee must certify their compliance with the Code of Ethics every year. 7 Salary adjustments are made based on the results of semi-annual evaluations. 8 All new hires for entry-level positions must have a college degree. All new hires for above entry-level position must have a college degree and at least three years of relevant work experience. 9 Foreign exchange adjustments are performed by an accounting clerk and are reviewed by a different accounting clerk. Corrective actions are documented. 10. Only IT personnel can make updates to the IT system 11. Salary adjustments for top management executives are made by the compensation committee of the board of directors. Required: 1) Assign the internal controls 1-11 (if they apply) listed above to one of the two principles in the table below. List only the number of the internal control that corresponds to the related principle in the second column. 2) After assigning the internal controls to each of the principles (i.e., mapping), determine whether there are any missing or inadequate internal controls (i.e., gaps). Describe this in the third column. The following control activities exist at ABC Company 1. All internal control weaknesses must be presented to the audit committee by management and/or internal auditors. Corrective actions must be documented. 2. At the end of the year, the controller reviews all monthly bank reconciliations for the year and documents corrective actions for any exceptions noted. 3 All procedures and policies related to hiring and promotion are documented and reviewed by management semi-annually. Follow up procedures after the review are documented 4 A whistleblowing system is established at a company's website where suspected fraud can be anonymously reported by any employee or external party. Each report must be investigated 5. All employees are evaluated semi-annually by their supervisors; the results of the evaluations are retained on file. 6. Every employee must certify their compliance with the Code of Ethics every year. 7 Salary adjustments are made based on the results of semi-annual evaluations. 8 All new hires for entry-level positions must have a college degree. All new hires for above entry-level position must have a college degree and at least three years of relevant work experience. 9 Foreign exchange adjustments are performed by an accounting clerk and are reviewed by a different accounting clerk. Corrective actions are documented. 10. Only IT personnel can make updates to the IT system 11. Salary adjustments for top management executives are made by the compensation committee of the board of directors. Required: 1) Assign the internal controls 1-11 (if they apply) listed above to one of the two principles in the table below. List only the number of the internal control that corresponds to the related principle in the second column. 2) After assigning the internal controls to each of the principles (i.e., mapping), determine whether there are any missing or inadequate internal controls (i.e., gaps). Describe this in the third column