Internal controls play an important role in reducing the risks of fraudulent activities in any organization. Further, advanced technology helps accountants in reducing fraud.
business
Description
Question
1:
a)
Internal controls play an
important role in reducing the risks of fraudulent activities in any
organization. Further, advanced technology helps accountants in reducing fraud.
Explain how an advanced technology transaction processing system reduces
fraudulent activities from any organizing. [Up to 200 words]
b)
Refer to the given system
flowchart, and we have discussed the control weakness and the risk associated
with these control weaknesses. Based on these control weaknesses and the
associated risk, what types of frauds are possible in this business environment.
[Up to 200 words]
