You are an accountant at a local CPA firm that is auditing the accounting record

You are an accountant at a local CPA firm that is auditing the accounting records of ABC Company. You have been asked to educate the accounting department about the limitations of the internal control system in preparation for an upcoming audit. During your audit you have identified that because of a weak internal control system an adjusting entry for prepaid insurance was not recorded for the first 3 months of the year at $500 per month.Please submit your assignment.For assistance with your assignment please use your text Web resources and all course materials.Unit Materials