1. What internal control procedure(s) would provide protection against the following threats/exposures? (10 marks of a 100 marks paper)

   1. Theft of goods by the warehouse workers, who claim that the inventory shortages reflect errors in the inventory records.

   2. Writing off a customers accounts receivable balance as uncollectible to conceal the theft of subsequent cash payments from that customer.

   3. Theft of cheques by the mailroom clerk, who then endorsed the cheques for deposit into the clerks personal bank account.

   4. Theft of funds by the cashier at Cash Receipts, who cashed several cheques from customers.

   5. A sales clerk sold a $7,000 wide-screen TV to a friend and altered the price to $700.