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3. Errors in preparing sales invoices (e.g., showing greater quantities than were shipped or showing unit
prices that are too low)
8. Excessive sales returns and allowances, with certain of the credit; memos being for fictitious returns
11. Theft (skimming) of cash receipts, especially currency, by persons involved in the processing; often
accompanied by omitted postings to affected customers’ accounts
12. Lapping of payments from customers when amounts are posted to account receivable records
13. Accessing of accounts receivable, merchandise inventory, and other records by unauthorized
persons
14. Involvement of cash, merchandise inventory, and accounts receivable records in natural or human
made disasters
15. Planting of virus (e.g., logic bomb) by disgruntled employee to destroy data on magnetic media
17. Unauthorized viewing and alteration of other customer account data via the web
18. Denial by a customer that an on-line order was placed after the transaction is processed
19. Use of stolen credit cards to place orders via the web
20. Breakdown of the web server due to unexpected high number of transactions
Exposure
1. Losses from bad debts
3. Alienation of customers and possible loss of future sales (when quantities are too high); losses of
revenue (when unit prices are too low)
5. Incorrect balances in accounts receivable and general ledger accounts records (e, g., overstatement of
Mary Smith’s balance)
6. Overstatement of revenue in one year (such as the year of premature booking) and understatement
of revenue in the next
8. Losses in net revenue, with the proceeds from subsequent payments by affected customers being
fraudulently pocketed
10. Understatement of accounts receivable, losses of cash receipts when subsequent collection on
written off accounts are misappropriated by perpetrators of the fraud
11. Losses of cah receipts; overstatement of accounts receivable in the subsidiary ledger and the balance
sheet
12. Losses of cash receipts; incorrect account balances for those customers whose records are involved
in the lapping
13. Losses of security over such records, with possibly detrimental use made of the data accessed
15. Loss of customer accounts receivable accounts data needed to monitor collection of amounts from
previous sales
17. Loss of security over customer records resulting in misstatement of accounts receivable baalances
19. Loss of shipped goods for which payments will not be received