With your instructor’s consent, select a place where you have worked or an organization in which you have some acquaintance (relative or friend), and therefore have access. Choose one area of operations (cash receipts, sales, shipping, receiving, or payroll) for review. For the area selected:

a. Identify the major transactions processed.

b. Select a representative transaction and perform a walkthrough of the application to gain an understanding of processing and controls implemented to mitigate the risks of misstatements.

c. Document the important controls identified during the walkthrough.

d. Identify control procedures you would recommend to improve the organization’s internal controls.