05 Jun Question Case Study 2
Question
Case Study 2
Due by Sunday of Week 5, 11:59 p.m., Mountain time
(Learning Objectives 2, 4: Explain the components of internal control; evaluate internal controls) Each of the following situations reveals an internal control weakness:
Situation a. In evaluating the internal control over inventory for the Williams Oil Services Company, an auditor learns that the warehouse receiving clerk is responsible for ordering parts for supply inventory use in drilling services, counts the inventory when received at the dock, records the receipts into the inventory ledger, and takes the annual inventory, No supervisor reviews the receiving clerk’s work.
Situation b.Nicole Lopez handles employee travel and expense reports for Scott Sales Services. With the growth in the economy, the sales team began traveling extensively gaining new business. Because of the heavy volume, she no longer required the sales team to provide original airline, hotel, or car rental receipts. She told them to just keep their meals under the $100 per day per diem and no receipts were required. She allowed them to use their own credit cards so they could get the frequent flyer points. She required them to turn in a summary of the travel expenses quarterly.
Situation c. Michael Jordon is a new employee hired from Craig’s List recommended by a co-worker. Mike was hired as a Human Resource Assistant. Mike’s first day on the job he is told that he should follow his own judgments when deciding how employee issues such as hiring and firing of employees, sexual harassment, and ethical infractions should be handled.
Top of Form
?Requirements
1. Identify the missing internal control characteristic in each situation.
2. Identify each firm’s possible problem.
3. Propose a solution to the problem.
Bottom of Form
Category
Points
Description
Understanding
10
Demonstrate a strong grasp of the problem at hand. Demonstrate understanding of how the course concepts apply to the problem.
Analysis
30
Apply original thought to solving the business problem. Apply concepts from the course material correctly toward solving the business problem.
Execution
10
Write your answer clearly and succinctly using strong organization and proper grammar. Use citations correctly.
Total
50
A quality paper will meet or exceed all of the above requirements.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.