Using the Format Illustrated in the Text, Create a Risk/control

question 3

Essay

Using the format illustrated in the text, create a risk/control matrix for PTW Corporation's acquisition/payment process.The matrix should have three entries.PTW Corporation sells computer peripherals and related devices, such as printers, ink, flash drives and cables.PTW has a staff of three purchasing agents, each of whom is in charge of a specific set of inventory items.Each purchasing agent uses his/her discretion in making decisions about when to order inventory, how much inventory to order and which vendor to purchase from.When ordered inventory arrives at PTW, one of two receiving clerks matches the items, quantities and vendors against a copy of the purchase order, then either stocks the merchandise on the shelves or puts it in the storeroom.PTW's accountant receives a copy of the invoice from the vendor, as well as an e-mail from one of the receiving clerks indicating that merchandise has been received.The e-mail also includes the relevant purchase order number.The accountant files the invoice by date in a filing cabinet; once a week, the accountant removes invoices from the filing cabinet and pays them by check.To cut down on clutter in the office, the accountant shreds the vendor invoice after the check has been paid by the bank.The accountant also completes a bank reconciliation within two weeks of receiving the bank statement in the mail.

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Definitions:

Recessive Allele

An allele that produces its characteristic phenotype only when its paired allele is identical, often masked by a dominant allele in a heterozygote.

Dominant Allele

An allele that expresses its phenotype even in the presence of a recessive allele within a diploid organism.

Hardy-Weinberg Law

The Hardy-Weinberg Law is a principle that predicts the genetic variation and allele frequencies will remain constant in a population from generation to generation, assuming no evolutionary influences affect them.

Gametic Isolation

A type of reproductive barrier where gametes (sperm and egg) of different species fail to meet or fuse, preventing gene flow between the species.