implementation (any of these steps: ERP product brand selection, module design, installation, testing, and daily operation), and propose at least 10 controls to mitigate the threats in your list. For each threat, there should be at least one proposed control. Elaborate on both the threats and controls. An answer like “Threat 1: Theft of cash.  Controls: a. surprise audits; b. running petty cash.” is not sufficient. You need to explain why you think theft of cash is a threat, and how the two controls can m

Case Study: Enhancing Financial Integrity Through Comprehensive Auditing Practices Introduction: In the rapidly evolving landscape of business and finance, the role of auditing has become increasingly crucial. This case study delves into the scenario of a medium-sized manufacturing company, XYZ Manufacturing Inc., that has recognized the importance of auditing accounting practices to enhance financial integrity, compliance, and overall organizational effectiveness. Background: XYZ Manufacturing Inc. has been experiencing growth in its operations, expanding its product lines and market reach. With this growth, the company's management has identified the need for a robust auditing system to ensure accurate financial reporting, compliance with regulatory standards, and the detection of any potential irregularities. Auditing Objectives: The primary objectives of the auditing initiative at XYZ Manufacturing Inc. are as follows: Ensuring Financial Accuracy: The auditing process aims to…

Which of the following describes preventive controls? (Several choices may be correct.) Expected to be 100% effective. O Easily verified as to whether the control has worked. O Designed to stop misstatement from occurring. O Applied to each transaction prior to entering transactions into the accounting system. Applied to each transaction after transactions have been processed. O Designed to detect fraud or errors that have occurred.

Whistle-blowers have played a key role in fraud detection. There are several types of whistle-blowers and safeguards for each type. Analyze the adversities that whistle-blowers face, including the safeguards intended to protect them. Compare the different types of whistle-blowers. What is the importance of each type?

Match the five system failures with a control plan that would best prevent the system failure from occurring. Also, give a brief (one or two sentences) explanation of your choice. A letter should be used only once, with one letter left over.Control Plans Reconcile bank account Match invoice, PO, and receipt Tickler file of open POs and receiving reports Batch sequence check Procedures for rejected inputs Independent authorization to make payment System Failures Pownal Company was sent an invoice for goods that were never received. The invoice was paid in full. Dewey, Inc. has several vendors who do not send invoices in a timely manner. Terms for payment are based on dates that goods are received, and discounts are being lost due to the late receipt, entry, and payment of these invoices. Washington Company processes invoices in batches. The accounts payable program performs a three-way match of the invoice with the PO and receiving report. Those that match are recorded on the accounts…

Please help ASAP. Clearly define the answers for the following questions. (use at least 10 sentences for each , thanks) Question 1: Explain and give examples of the use of a fraud theory. Question 2: Outline the Fraud Triangle and give two examples of each element