XACC 280 Week 8 Individual 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:

 

·        

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

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

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

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

·         A conclusion that summarizes your main points

·         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.