Listed below are five procedures followed by Gilmore Company. Indicate whether each procedure is an example of good internal control or of weak internal control. If it is an example of good internal control, indicate which internal control principle is being followed. If it is an example of weak internal control, indicate which internal control principle is violated. Use the table below. Procedure   IC Good or Weak?   Related Internal Control Principle 1.   Employees are required to take vacations.   Select a weakness in internal control                                                           GoodWeak   Select a control principle that is violated                                                           Independent Internal VerificationSegregation of DutiesEstablishment of ResponsibilityPhysical ControlsHuman Resource ControlsDocumentation Procedures 2.   Any member of the sales department can approve credit sales.   Select a weakness in internal control                                                           GoodWeak   Select a control principle that is violated                                                           Physical ControlsIndependent Internal VerificationDocumentation ProceduresHuman Resource ControlsEstablishment of ResponsibilitySegregation of Duties 3.   Paul Jaggard ships goods to customers, bills customers, and receives payment from customers.   Select a weakness in internal control                                                           WeakGood   Select a control principle that is violated                                                           Segregation of DutiesEstablishment of ResponsibilityPhysical ControlsHuman Resource ControlsDocumentation ProceduresIndependent Internal Verification 4.   Total cash receipts are compared to bank deposits daily by someone who has no other cash responsibilities.   Select a weakness in internal control                                                           GoodWeak   Select a control principle that is violated                                                           Human Resource ControlsIndependent Internal VerificationEstablishment of ResponsibilityPhysical ControlsSegregation of DutiesDocumentation Procedures 5.   Time clocks are used for recording time worked by employees.   Select a weakness in internal control                                                           WeakGood   Select a control principle that is violated                                                           Segregation of DutiesHuman Resource ControlsEstablishment of ResponsibilityPhysical ControlsIndependent Internal VerificationDocumentation Procedures

1. Confidential issues at work include: A. Reports, client matters, and employee information B. Anything your boss tells you not to share C. Both Reports, client matters, and employee information and Anything your boss tells you not to share D. None of these   2. The third level of ethics is checking if a behavior: A. Is fair B. Is legal C. Affects your conscience D. All of these E. None of these   3. Ethical behavior: A. Is reflected in your dependability B. Extends to how you deal with others C. Is reflected in how you conduct yourself D. All of these E. None of these

Ethics Codes help companies to keep a standardized way to take decisions else the decision can be biased. Unethical behaviors can damage the reputation of the company. Also if companies do not take strong measures against these then these can have a negative impact on others. The public or other stakeholders' interest can be subdued by personal interest. The impact of unethical behavior can have a long-term effect on any company's operation. Saint Leo's core values are Excellence, Community, Respect, Personal Development, Responsible Stewardship, and Integrity. Unethical behavior does not comply with any of it.

In the scenario, where employer has been putting more emphasis on controlling costs for the various businesses. With the slowing of overall spending in one sector, while ordering managers to closely monitor expenses, selling several companies and giving vice presidents greater responsibility for statements of financial positions. Whatpositive and negative consequences might this pose to the company in future fraud prevention? Outline at least three of each type.