SKM’s IT consulting division has undertaken a number of accounts receivable
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SKM’s IT consulting division has undertaken a number of accounts receivable

Week 2 Question

Shelly, Kelly & Mark (SKM) are the auditors of Bass. SKM’s IT consulting division has undertaken a number of accounts receivable management system implementation projects and is actively looking for opportunities to perform more of this type of work. As a result, SKM’s IT consulting division is planning to submit a proposal to implement an accounts receivables management system at Mass.

(a) Identify and explain the two primary threats to independence for SKM.

(b) Outline an appropriate safeguard to address each of the threats identified above.

Hint
Accounts and Finance A threat is a situation that poses danger or threat to a company. There are various threats that are encountered on a daily bases which are, hacking, spam, ransomware, and distributed denial of services. Primary threats, more specifically, are manifested in attempted attacks against a company....
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