This is for accounting information system subject
Required: C 1. Identify five of the 15 annotated points provided that satisfy one or more control objectives of the system. (1 MARK suggested time approx. 4 minutes) C 2. For each of the 5 identified control plans indicate what control objectives of the system are satisfied. (1 MARK suggested time approx. 4 minutes) C 3. Identify five of the 15 annotated points provided that indicate MISSING control plans for this system. (1 MARK suggested time approx. 4 minutes) C 4. For each of the 5 identified MISSING control plans indicate what control objective is not being satisfied and speculate on a control plan that should/could be implemented for each MISSING element. (2 MARKS suggested time approx. 8 minutes) TOTAL (5 MARKS) QUESTION C(1) Figure 1 ARNAQUE PURCHASING AND RECEIVING FLOWCHART Supplies Clerk Purchasing Department Computing Receiving Department Start Start Receive Goods Vendor Online report Display items that are below reorder point Packing slip Review Update requisition and inventory databases Enterprise Databases Inspect, count and compare count with Packing Slip Annotate Packing Slip and transfer goods to Warehouse Accept ad-hoc requests for items from operations staff Prepare Purchase Requisition Find Purchase Order number Annotated Packing Slip Request Purchase Order number Review Purchase Requisition Exists Purchase requisition and vendors Retrieve purchase requisition and approved vendors Create dummy Purchase Order update database Select Vendor Display Purchase Order Data Packing Enter Purchase Order data Create and print purchase order update requisition and inventory databases record Purchase Order Purchase Order data Purchase Order Update Inventory Purchase Order and General Ledger Record Quantity Received Note Packing Slip and File Accepted Vendor Receipt Required: C 1. Identify five of the 15 annotated points provided that satisfy one or more control objectives of the system. (1 MARK suggested time approx. 4 minutes) C 2. For each of the 5 identified control plans indicate what control objectives of the system are satisfied. (1 MARK suggested time approx. 4 minutes) C 3. Identify five of the 15 annotated points provided that indicate MISSING control plans for this system. (1 MARK suggested time approx. 4 minutes) C 4. For each of the 5 identified MISSING control plans indicate what control objective is not being satisfied and speculate on a control plan that should/could be implemented for each MISSING element. (2 MARKS suggested time approx. 8 minutes) TOTAL (5 MARKS) QUESTION C(1) Figure 1 ARNAQUE PURCHASING AND RECEIVING FLOWCHART Supplies Clerk Purchasing Department Computing Receiving Department Start Start Receive Goods Vendor Online report Display items that are below reorder point Packing slip Review Update requisition and inventory databases Enterprise Databases Inspect, count and compare count with Packing Slip Annotate Packing Slip and transfer goods to Warehouse Accept ad-hoc requests for items from operations staff Prepare Purchase Requisition Find Purchase Order number Annotated Packing Slip Request Purchase Order number Review Purchase Requisition Exists Purchase requisition and vendors Retrieve purchase requisition and approved vendors Create dummy Purchase Order update database Select Vendor Display Purchase Order Data Packing Enter Purchase Order data Create and print purchase order update requisition and inventory databases record Purchase Order Purchase Order data Purchase Order Update Inventory Purchase Order and General Ledger Record Quantity Received Note Packing Slip and File Accepted Vendor Receipt
