1. Describe the risks associated with the system depicted in the flowchart below.2. Describe the physical controls needed to mitigate each risks.Purchases DepartmentReceiving DepartmentČentral Computer FacilityAccount Payable DepartmentWarehousePackingSlipAVendorPOInvoiceRec ReprtIdentify ItemsPrepareReceivingreportAccauntingSystemand SelectVendarRecomcileReconcile anddocuments andUpdatePackingSlipRec Reprtset up LiabilityInventoryTmventoryRecordsPORec ReprtRec ReprtPOInvoiceACLOuntPOParyableRec ReprtVendor

1. Describe the risks associated with the system depicted in the flowchart below. 2. Describe the physical controls needed to mitigate each risks. Purchases Department Receiving Department Čentral Computer Facility Account Payable Department Warehouse Packing Slip Vendor A PO Invoice Rec Reprt Prepare Identify Items and Select Vendor Accaunting System Receiving report Recomcile Reconcile and Update Inventory Packing documents and Rec Reprt set up Liability nvenory PO Records Rec Reprt Rec Recrt

1. Describe the risks associated with the system depicted in the flowchart below. 2. Describe the physical controls needed to mitigate each risks. Purchases Department Receiving Department Čentral Computer Facility Account Payable Department Warehouse Packing Slip Vendor A PO Invoice Rec Reprt Prepare Identify Items and Select Vendor Accaunting System Receiving report Recomcile Reconcile and Update Inventory Packing documents and Rec Reprt set up Liability nvenory PO Records Rec Reprt Rec Recrt

Management, Loose-Leaf Version

13th Edition

ISBN:9781305969308

Author:Richard L. Daft

Publisher:Richard L. Daft

Chapter7: Planning And Goal Setting

Section: Chapter Questions

Problem 2ED

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