You are a Senior Auditor at Lexus Audit Firm and are currently part of the audit forCars $4$ U $($Pty$)$ Ltd$,$ a car manufacturer in Gauteng. The company purchases certainof the car parts from an overseas supplier in Germany.After observing a walkthrough performed during the audit on the receiving of goodsand recording purchases, you gained an understanding of how Cars $4$ U $($Pty$)$ Ltdreceives and records spare parts from suppliers. The company's operationalprocesses are as follows:Receiving of goodsThe spare parts from all suppliers are received in the reception area, at theadministrative office of Cars $4$ U $($Pty$)$ Ltd$,$ and received by the Receiving Clerk, TomSilver. Tom Silver had no training on receiving the goods. He omitted to check thegoods against the necessary supporting documents and did not check for anydamaged goods. Tom Silver performed no other work; he signed the supplier invoiceand sent the invoice to the accounts department.Recording of purchasesAll purchases are made on credit from an approved trade creditors list, and this list isupdated on the Masterfile once a year. Any employee at Cars $4$ U $($Pty$)$ Ltd can makeamendments to the Masterfile. The password to the Masterfile is shared amongst allthe employees, and the password is updated annually.At the accounts department of Cars $4$ U $($Pty$)$ Ltd$,$ the Creditors Clerk, Patricia Homes,captures the supplier invoice into the accounting software Xrex. Patricia Homeschecked the purchase order to the supplier invoice. She noted that the prices of thespare parts differ between the two documents and decided to capture the supplierinvoice amount. The supplier invoice is captured and submitted onto Xrex and markedready for payment, based on the terms agreed upon with the trade creditor. REQUIRED:$3\mathrm{.}1$ Explain how the risks of weak internal controls within the acquisition cycle cannegatively affect an entity.$(2\mathrm{.}5$ marks$)3\mathrm{.}2$ List all the source documents that Tom Silver should have identified duringthe receiving of goods and provide the purpose for each document.$(2\mathrm{.}5$ marks$)3\mathrm{.}3$ Identify the internal control weakness in the information provided in receivingof goods and recording of purchases for Cars $4$ U $($Pty$)$ Ltd$.$For each internal control weakness identified, describe the potentialconsequences to Cars $4$ U $($Pty$)$ Ltd and recommend improvements.Present your answer by using the following table:Internal control weakness PotentialconsequencesRecommendedimprovementsxxxx xxxx xxxx$(40$ marks$)$