Ordinary Limited Company Ordinary Ltd is a manufacturer of household goods and sells its merchandise both for cash

in its retail centres and on credit through its wholesale outlets. Tom Lungu is the Audit Manager for the year end Audit of Ordinary Limited for the financial year ended 30 June 2012. e is currently re!iewing the audit file and comes u"on the following notes that ha!e been "re"ared by the audit senior in regards to the sales cycle. These notes highlight the following# Note- Cash Sales $ash sales are made to wal% in customers that select the goods they wish to buy from the dis"lays within the sho". &ayment of the goods is made at counters and a cash recei"t is issued immediately to the customer. The com"uterised sales system recognises a cash sale as soon as it is made e'ce"t for sales made after 1(#00 hours each day. )uch sales are considered to ha!e occurred the following day. The stores close at 1*#00 hours each day and are o"en all days of the wee% including )unday and )aturday. +an%ings of cash ta%ings are made once e!ery two days by the cashiers. The com"uterised system re"orts are used as ban%ing sheets and reconciliations are "erformed once a month if there is time by the cashiers who submit them for re!iew to a su"er!isor. Note 2 - Credit Sales $redit sales are made from the wholesale centres. A customer "laces an order of the items they wish to "urchase with a sales cler% who u"on confirmation of the a!ailability of the item in in!entory,raises an in!oice for the sale of the goods. The sales cler% then collects the item from the stores and hands it o!er to the customer or arranges for deli!ery for the bigger items. -o goods dis"atched notes are issued and the sales cler% .ust signs on the in!oice in his own handwriting the words /sold/. A guard at the door chec%s for this signature before letting the customer lea!e the "remises with the item "urchased. 0or items that are deli!ered, the customer is re1uired to sign in a deli!ery register to indicate recei"t of the goods. Required: 2ou are the audit senior on the audit and Tom Lungu re1uests you to do the following as you "re"are a draft of the management letter# 345 4dentify 6 wea%nesses in the sales system of Ordinary Ltd. 36 mar%s5. 3445 7iscuss the "ossible effect of the wea%nessess identified 36 mar%s5 34445 &ro!ide recommendations to eliminate the wea%nesses 36 mar%s)