Accounting questions

***PLEASE ANSWER QUESTIONS ON THE ATTACHMENT*****

How could you improve internal controls over the assets that you own?

Using examples of weak internal controls in an organization that you are familiar with, how would you improve those controls to better safeguard a company's assets?  Would these internal controls differ with a different type of business?

In the wake of accounting scandals over the past several years, how has the Sarbanes-Oxley Act (SOX) of 2002 affected the practice of accounting? What is the role of internal controls in complying with SOX (2002)?