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A Compendium of Short Cases

For Internal Controls: A Compendium of Short Cases, choose 4 of the 6 short cases and answer its respective questions below.  Reponses should be well written, in paragraph form, using proper grammar and citations for any writing not your own.

Case 1

  1. What were your initial thoughts of Jeff Smith’s performance as Controller?  Given what happened later in this case, are you surprised given your perception of Jeff Smith?
  2. What internal controls could have been in place to prevent this from happening?


Case 2

  1. Describe the flaws in RME’s credit authorization process, and what recommendations you would suggest to implement in the process.
  2. As the auditor, what other information (not given in the case) might you inquire about related to the overall sales cycle / process? Why would you be interested in such information?

Case 3

  1. For purposes of evaluating internal controls, how does your client upgrading its accounting software impact your audit risk? Explain.
  2. Discuss the upsides and downsides of allowing remote access to the company’s system. Be sure to include internal control considerations in your responses.

Case 4

  1. What factors should an organization take into considerations when contemplating a keep in-house vs outsource decision for a key process? Be sure to include at least some internal control considerations in your response.
  2. Describe at least three internal control weaknesses related to computer and data security at AAA prior to the flood occurrence. For each weakness, make a suggestion of a control, policy, procedure, etc as to what would have promoted stronger computer security.

Case 5

  1. Describe how you as Controller would design the employee reimbursement process to avoid the issues that occurred related to damaged vehicles subsequent to the accident at the local plant.


Last Updated on October 11, 2019

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