Internal control procedures

During a recent information systems review of HTM Ltd, the following internal control procedures were identified

Assigning different employees to maintain physical stock in the warehouse and the stock records.

Don't use plagiarized sources. Get Your Custom Essay on
Internal control procedures
Just from $13/Page
Order Essay

Storing high-value stock items within a secure area with authorized/restricted access.

Requiring all payments for sales to be made by cheque/credit or debit card.

Counting stock periodically and comparing the count of each item to the stock records

Requiring all returns of sold goods to be listed on a special credit form that is prepared and signed by a manager.

E-mailing a monthly statement to each customer, showing the details of all transactions and the balance owed


Identify a risk exposure that each of the following control procedures or practices is intended to prevent or detect. For each of the above, provide an example of what might occur if the control were not in place and list one or more factors that could cause the risk exposure to be relatively high:

Place Order
Grab A 14% Discount on This Paper
Pages (550 words)
Approximate price: -
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Try it now!

Grab A 14% Discount on This Paper

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.