Identify the risks faced by fruito

Assignment Help Accounting Basics

Reference no: EM131314176 , Length: word count:1000

Task -

You have recently started as the Financial Accountant in a new organisation, 'Fruito'. Fruito is a local fruit shop which has both a retail shop selling to the public and distributes produce to other local businesses such as restaurants and hotels. Part of your role involves supervising the Accounts Payable department. After observing how the processes are undertaken, you have early concerns around Internal Controls with the ordering and receiving part of the expenditure cycle. After raising your concerns with the Chief Financial Officer (CFO), you are to undertake an initial internal audit of the process, specifically focusing on accuracy, completeness and validity. The scope of the investigation is to:

1. Identify the risks faced by Fruito when ordering and receiving their stock (fruit and vegetables). What is the potential impact of each risk to Fruito?

2. Recommend which Internal Controls should be implemented by Fruito. How do these controls mitigate the risks you have identified?

Prepare a summary of your findings for the CFO.

Rationale - This assessment task is designed to enable you to demonstrate your ability to:

Understand and apply foundation principles relating to computerised information systems in contemporary organisations; and
Identify organisational risk and generate systems that control that risk.

Assignment link - https://www.dropbox.com/s/pewqshz7oylv26w/Assignment.rar?dl=0

Reference no: EM131314176

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Reviews

len1314176

12/16/2016 12:24:29 AM

Total 1000 words, please check the Task, rest are supporting slides, I want the best one please. Outstanding analysis of at least 7 key relevant risks and how they impact the process. Provision of at least 2 relevant recommendations for each identified risk, providing an outstanding level of detail regarding how they each mitigate the risks. Outstanding use of syntax, vocabulary, spelling and punctuation; succinct and effective use of vocabulary; correctly formatted using APA style referencing. Outstanding presentation of findings in the correct report format. Include a summary of your findings in a response to the CFO. Your response should include: a cover page; an Executive Summary; and a table summarising your findings.

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