Description
Internal Controls
Provide an original and substantive response to the questions posed in your Journal in a minimum of 200 words.
You read about various internal controls that should be in place for ensuring sound operations and transaction processing. Internal control is a favorite topic of auditing students, since a lot of the internal controls you learned about can be applied to your jobs right now! Students enjoy bringing these internal control suggestions to their supervisors to improve processes.
Explanation & Answer
Hello, kindly find the answers attached.
Surname 1
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Professor
Course
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Internal Controls
Q. What are some control weaknesses you now see at your current (or past) jobs that you did not
see before?
Internal controls are usually methods designed to ensure honesty and accuracy in financial
reporting, transactions and other business operations. They are mainly put in place to aid in
achieving set business goals and objectives. Internal controls however do not give complete
assurance of achieving the objectives since they exhibit some weaknesses, rendering them not
very effective. Some of these weaknesses include;
Breakdowns: Even very strategic internal controls can collapse. Workers some of the time
misinterpret guidelines or essentially commit errors. The highly computerized systems may be
too c...