Identify

the most relevant key control to control to make an electronic funds transfer payment

on the internet for payment of salaries of the despatch clerk:

Green-Green Market Ltd is a wholesaler supplying

fresh fruits and vegetables to a small number of large retail grocery stores across

South Africa. Green-Green Market Ltd has recently decided to expand sales to

smaller retail grocery stores. The following control procedure takes place in

the normal course of business:

Mr Greenfingers, the credit manager,

diligently follows up on trade references provided by prospective customers seeking

credit before the customer is uploaded to the debtors masterfile and any sales

can occur.

Which one of the following alternatives best

describes the function within the receipts

and revenue cycle the above procedure relates to?

Mante

Fashionwear (Pty) Ltd accrues a liability for goods received but not yet

invoiced at month end. Indicate the source document that the accountant would

make use of to support the accrual entry.

You are the audit senior assigned to the audit of Speedy Ltd, a motor vehicle spares company.  

You obtain an understanding of the recording of goods ordered function within the acquisition and payments cycle at Speedy. 

Goods are delivered to the receiving bay where the receiving clerk will access the goods received module to capture the goods received note. He will then perform the following procedures on the goods received: 

i) Count the goods received and compare to the supplier delivery note; 

ii) Perform at least a superficial test on the condition of the goods; 

iii) Accept goods that have been short delivered in terms of the purchase order; 

iv) Sign the supplier delivery note to acknowledge the goods received. 

Identify which of the above procedures performed by the receiving clerk were incorrect? 

Which

internal control would best prevent inventory theft in a warehouse that

contains high value inventory items of jewellery?

In order for a non – executive director to be classified as independent he/she must satisfy a number of requirements.

Which ONE of the following is an applicable requirement?

MNT

Auditors has been appointed as the external auditor of Mzansi Retail Group

(Pty) Ltd (Mzansi Retail). The company’s financial year-end is 30 June. You are

the audit senior in charge of the audit for the 2025 year-end.

Background

information on salaried employees

The

company operates across seven business units with approximately 50 salaried

staff members working in the following departments: store operations, supply

chain, warehousing, merchandising, sales, finance and administration, and

information technology. Each department is managed by a senior supervisor who

reports to the operations director, Teboho Nkosi.

Identify

the most appropriate business risk for Mzansi Retail Group (Pty) Ltd (Mzansi

Retail) related to the identified control weakness.

You are the audit senior assigned to the audit of Speedy Ltd, a motor vehicle spares company. You obtain an understanding of the ordering function within the revenue and receipts cycle at Speedy Ltd. All orders are captured by the debtors' clerk, who will input the order into the revenue system by creating an internal sales order and capturing the order details. Which one of the following programme controls should be implemented to ensure that the order quantity is accurate before processing the order?