Control Environment
To develop an audit program for RNS's internal controls for cash, it is important first to understand the organization's control environment. This includes understanding the financial resources available to the company, the types of transactions, and the risks associated with each transaction (Chang et al., 2019). RNS, a player in networking and computer products, is highly susceptible to economic conditions. In addition, the company gives credit allowances to their customers to purchase their products and pay at a later date. Owing to the ongoing economic downturns, RNS has capitalized on credit strategies to increase its sales (Driscoll, ...
