Xacc 280 week 8 assignment internal controls

Assignment: Internal Controls

 

• 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.