The Frankie Company is quite a small company. It sells most of its items on credit to contractors. Henry supervises the credit approvals and reviews and handles bill payments, collections, and the bank accounts. Johnny has responsibility over the bank reconciliations, accounts receivables and the accounting records in general including the financial reports. One morning the company secretary thumbed through the incoming mail as was her custom being quite an inquisitive person. There were quite a few envelopes, but one caught her attention. It from the bank, but it was not thick enough for it to be a bank statement. She looked into the clear part of the envelope and saw that was something related to the account balance being negative. She was alarmed and immediately brought it to Frankie Senior, as he wants to see any unusual mail and correspondence At the same time Frankie Senior is receiving this letter, Johnny is reviewing last month's bank statement, which seems to be off by a balance of exist1, 104.35. He does not understand why that balance can be off but is sure with the newest bank statement, he can discover the error/difference. A few moments later, Joe gets a call from Frankie Senior and Frankie indicates that the bank balance is now overdrawn by some exist14,000. Frankie is not dumb when it comes to finances, so Joe knows he must take him seriously and vows to get to the bottom of it. Joe did inform Frankie that the bank account balance in the general ledger was not overdrawn and that he did not write any checks to cause the balance to be negative. He opened the most recent bank statement which he just received yesterday. In that statement was a check written to Mary Walters for exist2, 500. Joe had no clue who Mary Walters was but he was sure going to find out He was not aware of any customer named Mary Walters, and analyzing the check, he became aware that it was deposited at some New York bank. He looked at all other checks and realized that there were more checks that month written to Mary Walters. Joe called Frankie and informed him of his discovery. After that discussion, they both wanted to discuss this with Henry, since he is the one with the checkbook. But Frankie came up with another idea Frankie wants a complete audit of Henry's office and install a hidden camera so that all angles in that office can be seen. But Joe thinks maybe someone stole the checks from Henry. Frankie is not Henry convinced as all checks are locked in a safe and the combination is only known to Frankie and Henry. Evaluate how Frankie Senior and Joe have handled the situation. Evaluate the company's internal control processes as they apply to this case