Essay
Smart Start Company is a hardware supplier to building contractors. At the end of each month, the employee who maintains all of the inventory records takes a physical inventory of the firm's stock. When discrepancies occur between the recorded inventory and the physical count, the employee changes the physical count to agree with the records.
Required:
A. What problems could arise as a result of Smart Start Company's inventory procedures?
B. How could the internal control system be strengthened to eliminate the potential problems?
C. What are the implications of SOX sections 302 and 404 for the company's internal control issues?
Correct Answer:
Verified
Correct Answer:
Verified
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Q5: Section 404 of the Sarbanes-Oxley Act, Management
Q6: Which of the following is a typical
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