Wolf Apartments Maintenance Payments (Narrative)

1.Wolf Apartments rents apartments in several buildings near the UMD campus. Maintaining these buildings is costly but very important to tenant satisfaction and retention.

2.Each morning Willy the office clerk looks in the accordion file holding invoices from outside contractors to be paid that day (the file has a separate slot for each day of the month). He pulls them out and logs on to his PC to bring up the check writing database program. He then inputs the vendor name and address and amount to be paid. The program immediately prints the check original and a copy. He then files the vendor invoice with a copy of the check.

3.After the morning coffee break, Willy goes to the post office. At the post office he mails the checks and picks up the mail containing new invoices from contractors for repairs. Immediately upon returning to the office he has the Office Manager review and approve the invoices marked "Done" in the accordion file (see paragraph 4). He then re-files the approved invoices in the accordion file by due date. Wolf Apartments has a 30 day terms with most of its contractors.

4.After lunch, Willy picks up tenant's new maintenance request from the drop box outside his office and requests with invoices from the "Pending Requests" file (see paragraph 5), then visits the apartments to verify the problems mentioned in the new requests (e.g. leaking pipe, clogged drain etc.), noting the date of his visit. He also verifies that contractors have completed work that they have invoiced. Returning to the office, he stamps completed requests and related invoices "Done" and files them in the accordion file. Willy then prioritizes the verified new requests and sends them to the Office Manager for approval. Immediately after the approval of new requests the Manager returns the requests to Willy. Willy then calls and independent contractor to describe the repair needed. Notes the name of the contractor and date of the call and the expected visit date on the request, and then files the requests by visit date in the "Pending Request" file.

5.The contractor makes the repair, which can take anywhere from 1-10 days to complete, then immediately sends an invoice. Willy checks the addition and multiplication on the invoice, then files the invoice with the request in the "Pending Request" file.

49) in paragraph 4

Problems (DO NOT ASSUME ANYTHING BEYOND THE SPECIFIC WORDS GIVEN)

1.In PARAGRAPH 4, the possibility of Willy losing a tenant maintenance request is primary relevant to which of the following assertions?

a.Validity/existence/occurrence

b.Segregation of Duties

c.Accuracy/Valuation

d.Completeness

e.Authorization

2.In PARAGRAPH 4, the threat of Willy, losing or completely ignoring a tenant's maintenance request is most effectively addressed by which of the following controls?

a.Having pre-numbered request forms without sequence checking

b.Tenants calling the Office Manager if work is not done

c.The Office Manager checking the maintenance requests for missing data fields

d.All of the above

e.Both B and C

3.The Office Manager reviews and approves invoices from vendors. This is violation of segregation of duties.

a.True

b.False

4.Willy should not both handle and prioritize the maintenance requests. This is a violation of segregation of duties.

a.True

b.False

5.In PARAGRAPH 2, the possibility of Willy mis-keying the vendor address relates primarily to which of the following assertions?

a.Validity/existence/occurrence

b.Segregation of Duties

c.Accuracy/Valuation

d.Completeness

e.Authorization

6.In PARAGRAPH 2, the likelihood of Willy mis-keying the address for an existing vendor on a new check would be best reduced by which of the following controls?

a.Access controls

b.Input masks

c.Validation rules

d.Use a database having referential integrity between payment and vendor tables

e.Non of the above

7.If a contractore stamped an invoice done and sent it directly to the office manager, this would relate to the following assertation

a)Authorization

b)Completeness

c)Accuracy/valuation

d)Validy/existence

e)None of the above

8) in a flowchart of the activites in paragraph 2 how many column heading would there be?

a) one

b) two

c)three

d)none of the above

9) in the flowchart of the activites in paragraph 2 how many rectangles would there be ?

a) none

b) one

c)two

d)three

e)none of the baove