Discussion 4

timer Asked: Jun 30th, 2018
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Question description

Discussion Topic: Risks and Internal Controls

This Discussion will assess your understanding of organizational risks and the needed controls to mitigate those risks. Briefly discuss at least three risk factors that may be prevalent in a manufacturing entity’s inventory management and recommend an internal control procedure to address each of the risks. Based on your experience with or readings about a manufacturing business, briefly discuss the interrelated components that should exist within the organization’s internal control system.

Most be in APA Format.

Tutor Answer

School: Duke University



Risk factors
Inventory may be very sufficient to enable business operation run smoothly. However,
the management of that inventory can be tricky as it is faced with a number of risks. Fraud is one
of the risks which inventory management may face. Fraud can lead to misstatement of a firm’s
inventory material facts leading to misappropriation of the assets. The other risk that inventory
management may suffer in a manufacturing company is excessive inventory. Excess inventor...

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