Question 3
ICAN
•
2026
•
ADVANCED AUDIT ASSURANCE AND FORENSICS
•
mixed
Case Stimulus
Mount Pisgah Supermarkets Limited is a fast-growing retail chain operating across Nigeria. The company has recently computerised its accounting system and now uses a point-of-sale (POS) and enterprise resource planning (ERP) system for sales, purchases, assets, and inventory management. During the preliminary review, the external auditors noted that: (i) cashiers had access to both the cash register and system records without segregation of duties; (ii) there was no regular reconciliation between POS records and bank deposits; (iii) the IT department controlled access rights but passwords were sometimes shared among staff; and (iv) Internal audit existed, but only performed periodic inventory counts.
Requirements
(
a
)
The objectives and main components of internal controls.
(
b
)
TWO internal control weaknesses in Mount Pisgah Supermarkets’ computerised environment and recommend appropriate information security measures.
(
c
)
How Mount Pisgah Supermarkets can strengthen its internal control system.
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About This Question
This is
Ican
2026
Advanced Audit Assurance And Forensics
Question 3.
It is one of the
mixed
questions from the
2026
Ican
Advanced Audit Assurance And Forensics
examination.