q8 : You are the senior auditor of Nice and Natural Ltd (NNL) for the...
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q8 : You are the senior auditor of Nice and Natural Ltd (NNL) for the year ended 30 June 2021. NNL is a large pharmaceutical manufacturer and distributor located in NSW. One of your junior auditors, Charles, is keen to evaluate NNE's strengths and weaknesses for some of the client's procedures. For the following independent situations:
1. Identify if it is a strength or a weakness of the control systems
2. Give a reason why it is a strength or a weakness
3.If it's a weakness, suggest improving the controls to overcome the weakness.
4.If it's a strength, what is the benefit of the strength? The warehouse manager approves timesheets for warehouse staff and then passes them to Kim Kardashian in payroll. Kim prepares the pay sheet information, matching the hours worked given by the warehouse manager which gets reviewed by the payroll manager, Kanye West, before the payment is processed.
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