Describe weaknesses in internal control The following incidents took place in the DG Company: 1 Fred, the mail opener, converted a cheque payable to the DG Company for his personal use. When he was...

Describe weaknesses in internal control The following incidents took place in the DG Company: 1 Fred, the mail opener, converted a cheque payable to the DG Company for his personal use. When he was doing the bank reconciliation, Fred treated the missing amount as a deposit in transit. 2 Kylie, the cashier, pocketed cash received over the counter from customers paying their accounts. She then wrote off the receivables as uncollectable. 3 Joe wrote out a company cheque to pay for construction done at his home. 4 Bill collects the cash from vending machines and keeps about 20 per cent for himself. 5 Liz inflates the hours she works on the time sheets. For each incident, describe the internal control weakness that made the incident possible and describe procedures that would remove each weakness.