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Company X
Company X processes fluid chemicals. The purchasing department places orders based on a minimum inventory level. The chemicals are received through pipelines and stored in tanks. The company has a logistic system in which an employee of the storage department enters the received goods. The purchasing department makes payments based on bills received with each delivery of goods. Each department (among others, purchasing, sales, production, accounts receivable administration, storage department, controlling) has a personal computer at its disposal which is connected to a network. All financial transactions are processed in the financial system. In addition, the company uses a management information system supplying relevant managerial information. The three information systems are not integrated.
Company Y
Company Y processes fluid chemicals. Orders are placed automatically by the ERP-system (logistics module) based on a minimum inventory level. Chemicals are delivered through pipelines and stored in tanks. The minimum inventory level is indicated by means of an automated observation system integrated in the ERP-system. Subsequently, an order is placed with the supplier through EDI (Electronic Data Interchange; purchasing module). At the supplier's the order is prepared automatically by the computer and shipped automatically through the pipeline. Based on the receipt through the pipeline Y's purchasing department automatically prepares a pro forma bill and sends it by means of EDI (purchasing module). Payments are made automatically through electronic money transfer.
Company Y takes over Company X. A big hurdle to take is the conversion from the old-fashioned information system of X to the ERP-system of Y.
Required - Discuss the differences between Company X and Company Y regarding the internal control measures that are to be taken. In doing so, deal with the following areas:
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