The purchasing process is a part of internal control that allowed the audit to perform as per the guidelines of purchasing. The audit follows the rule of the purchasing process and ensures that all transaction recorded accordingly. The purchasing process included the guidelines of duties, delivery time, and prices to avoid the risks. A stock transaction is a part of the purchasing process that includes the process that occurs when the stock changes the ownership. To discuss: The major segregations of duties that should maintain when the entity does not use sufficient personnel to perform the stock transaction.

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Chapter 15, Problem 15.6RQ

To determine

Concept Introduction:The purchasing process is a part of internal control that allowed the audit to perform as per the guidelines of purchasing. The audit follows the rule of the purchasing process and ensures that all transaction recorded accordingly. The purchasing process included the guidelines of duties, delivery time, and prices to avoid the risks. A stock transaction is a part of the purchasing process that includes the process that occurs when the stock changes the ownership.

To discuss: The major segregations of duties that should maintain when the entity does not use sufficient personnel to perform the stock transaction.

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