2 ParagraphsAPA formatted referencesIt has come to the CEO's attention that Sally, a company...

Question

2 ParagraphsAPA formatted referencesIt has come to the CEO's attention that Sally, a company salesperson, grants the 
rights to wholesalers to return unsold product. He asks you to discuss the 
following at the next board of directors meeting:

In the system of internal control, are Sally’s actions a significant 
deficiency or a material weakness?
Explain your reasoning and rationale.
In your own words, please post a response to the Discussion Board and 
comment on at least 2 other postings. You will be graded on the quality of your 
postings.
The following rubric will be used for grading:

Grading Rubric

30%

In the system of internal control, are Sally’s actions a significant 
deficiency or a material weakness?

60%

Explain your reasoning and rationale.

David · Accepted Answer

Significant Deficiency 
Significant deficiency can be called as the control deficiency, or mix of deficiencies that 
negatively affect the ability of the company to start, authorize, record, process or report external 
financial data reliably as per generally accounting principles and there is more possibility that the 
misstatement in the company’s financial statements will not be prevented or detected.

Grading Rubric
30%	In the system of internal control, are Sally’s actions a significant deficiency or a material weakness?
60%	Explain your reasoning and rationale.

2 ParagraphsAPA formatted referencesIt has come to the CEO's attention that Sally, a company salesperson, grants the rights to wholesalers to return unsold product. He asks you to discuss the...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment