XACC 280 week 8 Assignment Internal Controls

    Assignment: Internal Controls

·        Due Date: Day 7 [post to the Assignments section of the Classroom]

·        Write a 750- to 1,050-word paper in APA format, including citations and references, summarizing your ideas about internal controls.

·        Include the following:

o   An introduction to internal controls, explaining in your own words the two primary goals of internal control

o   A description of how the Sarbanes-Oxley Act of 2002 has affected internal controls

o   An explanation of why a company that announces deficiencies in its internal controls would probably experience a fall in the price of its stock

o   A synopsis of what you consider to be the limitations of internal controls – Cite specific examples.

o   A conclusion that summarizes your main points

o   A comparison of the internal control principles of (1) establishing responsibility, (2) using physical, mechanical, and electronic controls, (3) segregation of duties, and (4) independent internal verification.

·        Post your completed paper as an attachment.

Solution