A majority of the economic transactions in which you participate on a daily basis are currently accounted for by some sort of Point of Sale (POS) information system. From buying groceries to going to a casino, POS systems are being used to track and control all aspects of both financial and operations management.
Conduct research to answer the following:
What is a point of sale system?
In your opinion, does a point of sale system increase or decrease the likelihood that cash will be stolen by employees? Explain.
What additional features of a traditional POS system are likely to be beneficial to conducting a professional audit?
Cite your sources using APA style guidelines
Solution Preview :
The traditional point of sale system consists of the XXX and XXX components parts. During the professional auditing, the experts must have a thorough understanding of the physical component. This includes background color, payment brand logo, expiration date, primary account number, card verification value and cardholder’s name (Gomzin, 2014). However, there is additional features like cardholder’s photo, card signature, metallic tipping and holographic magnetic strip which are also ben