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Company X processes fluid chemicals.

01 / 10 / 2021 Projects

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Company X processes fluid chemicals.

(4.1) ERP and Internal ControlCompany XCompany X processes fluid chemicals. The purchasing department places orders based on aminimum inventory level. The chemicals are received through pipelines and stored in tanks. Thecompany has a logistic system in which an employee of the storage department enters the receivedgoods. The purchasing department makes payments based on bills received with each delivery ofgoods. Each department (among others, purchasing, sales, production, accounts receivableadministration, storage department, controlling) has a personal computer at its disposal which isconnected to a network. All financial transactions are processed in the financial system. In addition,the company uses a management information system supplying relevant managerial information. Thethree information systems are not integrated.Company YCompany Y processes fluid chemicals. Orders are placed automatically by the ERP-system (logisticsmodule) based on a minimum inventory level. Chemicals are delivered through pipelines and stored intanks. The minimum inventory level is indicated by means of an automated observation systemintegrated in the ERP-system. Subsequently, an order is placed with the supplier through EDI(Electronic Data Interchange; purchasing module). At the supplier’s the order is preparedautomatically by the computer and shipped automatically through the pipeline. Based on the receiptthrough the pipeline Y’s purchasing department automatically prepares a pro forma bill and sends itby means of EDI (purchasing module). Payments are made automatically through electronic moneytransfer.Company Y takes over Company X. A big hurdle to take is the conversion from the old-fashionedinformation system of X to the ERP-system of Y.RequiredDiscuss the differences between Company X and Company Y regarding the internal control measuresthat are to be taken. In doing so, deal with the following areas:-Input.-Documents.-Conversion.-Continuity.-Segregation of duties.-Access security.-Information and communication technology.



International House, 12 Constance Street, London, United Kingdom,
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