control risk

This topic contains 1 reply, has 2 voices, and was last updated by Avatar of gromit gromit 1 year, 9 months ago. This post has been viewed 51 times

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts

  • Avatar of Vipin
    Vipin
    Participant
    • Topics: 96
    • Replies: 337

    for example,
    sales can be ordered through the emails and products are delievered at customer house.
    emails are read by 3 employees in sales department.
    and company has no control whether all emails are read or not .
    is this a control risk or is it simply a deficiency in internal control?
    here, no money is involved, so it should not be a control risk.
    i guess, control risk is where they couldnt find a material error in cash flow.

    thanks for help.


    Avatar of gromit
    gromit
    Keymaster
    • Topics: 1
    • Replies: 1874

    There is no difference between a control risk and an IC deficiency. It is potentially just as serious for the company to lose sales as to lose cash.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.