Recommendations
We believe the following 5 recommendations listed below will be beneficial to lowering risks related to IT and unauthorized access in the Athens, OH Wendy’s location:
1. New POS System
By updating the POS system, management will be able to spend more time monitoring other controls. The current control of reviewing the POS system for errors is directly related to issues caused by the outdated system that is being used. The system crashes frequently, which causes delays in operation and reduces the efficiency of the restaurant. These crashes also create additional risks of error in the record of transactions. Integrating the new system will reduce the risk of errors in the tracking of sales and inventory levels recorded by the system. This will also improve the completeness and accuracy of the financial statements.
2. Replacement and Review of Cash Register Cameras The Athens, Oh Wendy’s location currently has cameras in place that should record both the cashiers and the customers at the counter. However, the cameras do not work. Crew members are not told that these cameras do not work, so they work under the impression that they do. Although these cameras currently serve as a deterrent, replacing them with working …show more content…
Effective controls related to these risks provide greater assurance that the firm will be able to continue operations legally and safely. The restaurant also has some deterrents in place to discourage theft and robbery. Due to poor monitoring of significant controls, the firm has experienced issues with cash “disappearing” from the office safe. By enhancing the controls already in place with better technology and more accountability, Wendy’s can reduce the risk of theft reoccurring. Also, by creating additional controls, Wendy’s can improve the mitigation of their business related
We believe the following 5 recommendations listed below will be beneficial to lowering risks related to IT and unauthorized access in the Athens, OH Wendy’s location:
1. New POS System
By updating the POS system, management will be able to spend more time monitoring other controls. The current control of reviewing the POS system for errors is directly related to issues caused by the outdated system that is being used. The system crashes frequently, which causes delays in operation and reduces the efficiency of the restaurant. These crashes also create additional risks of error in the record of transactions. Integrating the new system will reduce the risk of errors in the tracking of sales and inventory levels recorded by the system. This will also improve the completeness and accuracy of the financial statements.
2. Replacement and Review of Cash Register Cameras The Athens, Oh Wendy’s location currently has cameras in place that should record both the cashiers and the customers at the counter. However, the cameras do not work. Crew members are not told that these cameras do not work, so they work under the impression that they do. Although these cameras currently serve as a deterrent, replacing them with working …show more content…
Effective controls related to these risks provide greater assurance that the firm will be able to continue operations legally and safely. The restaurant also has some deterrents in place to discourage theft and robbery. Due to poor monitoring of significant controls, the firm has experienced issues with cash “disappearing” from the office safe. By enhancing the controls already in place with better technology and more accountability, Wendy’s can reduce the risk of theft reoccurring. Also, by creating additional controls, Wendy’s can improve the mitigation of their business related