ACC 504 - 07/A1
Individual Project #3
Due 2/20/2008
Prepare a complete answer to problem #65 on pages 150-152 of the textbook regarding system analysis and internal controls, as explained below:
Part 1 - Prepare a complete and clear analytic flowchart fully describing the system now in place (ignore proposed changes to the computer system).
Part 2 - Internal controls weakness and improvement list.
There are many specific control weaknesses. You must identify as many as possible and specify a solution for each.
Example:
1. Weakness: There is no independent verification of the hours worked and quantities produced as reported by the employee.
Solution: A supervisor should sign timesheets after verifying the employee’s hours worked and quantities produced.
-1/20/2007 -