Reference no: EM133042639

Question - You have recently joined the accounting department of ABC Limited as the head of the accounting department. During your first week, you are concerned about the assistant accountant's activities in your department. In particular, you are worried about the activities related to the general ledger and subsidiary ledger. Miss Maria uses the source documents such as purchase orders, sales invoices, and suppliers' invoices to prepare journal vouchers for general ledger entries. At the end of each working day, she posts the journal vouchers to the general ledger and the related subsidiary ledgers. At the end of each month, Miss Maria reconciles the subsidiary accounts to their control accounts in the general ledger to ensure that there is no difference in these accounts.

Required - Discuss the internal control weaknesses and risks associated with the above process?