Pwc Case

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PWC Case
The Consumer Vitamins (CV) division of ABC Pharmacy Co is outsourcing their vitamin C supplements to Moberly Manufacturing Co. while getting the raw materials from SS Sugar Inc. The process of manufacturing starts by CV placing an order in SS. After SS received the order, the raw materials will be shipped to Moberly. In order to produce the semi-finished good, Moberly needs to get the stock materials from CV division. Then, the semi-finished goods will be shipped to CV division to be further processing and packaging.

| Risks | Controls | 1 | Ordering unnecessary material | 1. Review purchase requisitions 2. Integrate related information in ERP system | 2 | CV places wrong purchase order | 1. Two-way match2. Double check the order before placing the order | 3 | The timing of the shipment from SS | 1. CV should sent its employee to SS make sure the shipping is in time | 4 | Inferior materials from SS | 1. Moberly should check the product amount and quality from SS | 5 | Moberly manufacturing problem | 1. Minimize possible misunderstandings when communicating the manufacturing specifications2. List clearly all requirements and restrictions in contract. | 6 | Stealing of inventory | 1. Moberly checks materials from SS before and after manufacturing2. Segregation of duty3. Keep the storage locked4. Ethical training | 7 | Problem of CV’s payment to SS and Moberly | 1. Segregation of duties 2. Three-way match3. Only pay invoices off of original copies | 8 | A/P posting errors | 1.Reconciliation procedures | 9 | Paying for goods not received | 1. Inventory check by CV manually | 10 | Inaccurate inventory records between CV and Moberly | 1. Install a real-time inventory system | 11 | Electronic data interchange problems | 1. Access controls2. Digital signature3. Dual processors |

(regarding SS shipping possible problems - timing,…...

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