Identify an internal control procedure that would reduce each of the risks that follow in a manual system. Also describe how (or if) an IT system...

Identify an internal control procedure that would reduce each of the risks that follow in a manual system. Also describe how (or if) an IT system could reduce these risks: A. Revenues may be recorded before the related shipment occurs. B. Employees responsible for shipping and accounts receivable may collude to steal goods and cover up the theft by recording fictitious sales. C. Credit memos may be issued at full price, when the goods were originally sold at a discount. D. Sales invoices may contain mathematical errors. E. Amounts collected on accounts receivable may be applied to the wrong customer.

ANSWERA. Revenues may be recorded before the related shipment occurs.Ans: - Before the goods are shipped, revenue cannot be realised. If we want torecord the entry in the books of accounts it...