Reference no: EM132557074

Question - What internal controls are absent or have been violated? What recommendation for the findings below? What are the risks and consequences in the items below?

1. Timesheets for hourly-paid employees are supposed to be submitted every two weeks. However, you discovered that, on three occasions in 201, timesheets for the finished goods warehouse were not submitted on time (instead, the timesheets were submitted along with the following two weeks' timesheets, resulting in the employees being paid once a month instead of every two weeks).

2. You learned of a number of complaints from the employees on one of the Surface Mount assembly lines. The timesheets for the employees working on the assembly line contained a number of errors, resulting in employees not being paid correctly, overtime being missed, and employees being paid for time not worked. Out of a sample of 60 timesheets from this assembly line, 20 contained one or more errors, yet all had been approved by the SMT Assembly Line Supervisor.