ACC 504 Case Study 2 – Internal Control

May 5th, 2015
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Solution:Introduction:Internal control is one of the integral part of an organization. It is a system which controls different types of risks, bringing into focus different frauds of the company, assuring the transparency of the company which helps in a reliable financial reporting. It focuses on achieving the goal of the organization with an aim that ensures that the operations of the organization are done effectively and efficiently. The major concern of Internal control is concerned with the optimal and effective utilization of assets. Assets being the most important part of the organization help in generating services and benefits. Internal control focuses on effective and efficient use of assets.According to COSO, Internal Control is the process of designed to provide reasonable assurance regarding the achievement of business objectives The business objectives that needs

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