HI5019 Strategic Information Systems - Analysing an Accounting Information System

Required:

Based on the above information, prepare a report for the CEO of XYZ Limited to evaluate their revenue cycle. In your report, you need to include the following items:

1. The CEO asks you to start the report from five general risks involved in the revenue cycle of any business. Further, indicate the physical and IT control against each risk.
2. Describe potential internal control weaknesses in the sales order processing procedures and cash receipts procedures of XYZ Limited.
3. Discuss the potential risks associated with the internal control weaknesses identified in Section (2) above.
4. Based on Section (3) above, what types are frauds are possible. Hint: we have discussed different types of frauds in the interactive tutorial and lectures. Your discussion should be based on these contents.

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