Reference no: EM13957742
Using any business as an example, or by observing processes in a business, or by talking to someone who works, you should produce information about the 6 steps. Here are the 6 questions you need to answer.
1. Provide an introduction of any random company, industry and your association
2. Identify at least 25 internal controls that are employed by the company
3. Identify each control by type of control activity (Implement the control policies by specific routine tasks, performed at particular times by designated people held accountable by adequate supervision and evidence of performance. Proper Authorization of Transactions and Activities, General Controls. Performance Reviews. Information Processing, Adequate Documentation, Application Controls. Physical Controls. Segregation of duties.
4. Assess the effectiveness of the controls you observed
5. Make suggestions on how to improve on any controls that are ineffective
6. Suggest at least 5 new controls that the company can add to reduce errors and/or fraud
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