Internal Controls

1. 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:
oAn introduction to internal controls, explaining in your own words the two
primary goals of internal control
oA description of how the Sarbanes-Oxley Act of 2002 has affected
internal controls
oAn explanation of why a company that announces deficiencies in its
internal controls would probably experience a fall in the price of its stock
oA synopsis of what you consider to be the limitations of internal controls –
Cite specific examples.
oA conclusion that summarizes your main points
oA 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.