internal control
Read the IMA Case, Lack ofInternal Controls: Beaumont Independent School District, andchoose one of the followingschemes:
Lack-of-Internal-Controls-Beaumont-Independent-School-DistrictCase.pdf
Medical Magnet Program tuition funds and studenttranscript fees,
Cash funds and scholarship donations,
Catering ad food service, and
Printing services provided by Brian Collins, BISDemployee Patricia Adams Lambert’s son.
Answer the following questions for the schemeselected:
Use specific examples to identify weaknesses thatexisted in the internal control environment at BISD. Based on theidentified weaknesses, what improvements to the control environmentwould you recommend?
List and discuss several control activities that couldhave been used by BISD to prevent and/or detect themisappropriation of funds perpetrated by Patricia Lambert. Pickmore than one scenario, and discuss how the control activitieswould be applied in each scenario.
Do you think BISD has effectively identified riskssurrounding purchases from vendors and cash receipts? Identifythese risks, and suggest procedures that should be implemented inresponse to those risks
