Below Are Three Procedures That Violate Common Internal Control Guidelines

Below are three procedures that violate common internal control guidelines over the purchasing function:
a.The company has never established any written policies regarding conflicts of interest for its buyers.
b.The company's buyers are allowed to select suppliers without submitting a list of bidders for review.
c.The same buyers who ask suppliers to submit requests for quotations receive the suppliers' bids directly from the mailroom.
Required: For each procedure,state one problem that could arise because of the failure to follow common guidelines in the purchasing function.

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Problems that could arise under each con...

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