BU547 Lecture Notes - Lecture 6: Canadian Imperial Bank Of Commerce
Document Summary
Weakness: a major control weakness is the ability of salespeople to edit invoices the same day. Implication: allows for potential unethical behaviour as there is no control system in place monitoring what each sales person does in the system, have the ability to increase the price in order to achieve a higher sales commission. Individual could also reduce the selling price and pocket whatever amount of money they wanted to. Recommendation: to take away this system, and to just update the customer balance if there are any errors in the invoice whether that be issuing another invoice or a credit memo.
