XACC 280 week 8 Assignment Internal Controls

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:

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

internal control

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

o An explanation of why a company that announces deficiencies in its internal controls

would probably experience a fall in the price of its stock

o A synopsis of what you consider to be the limitations of internal controls – Cite specific

examples.

o A conclusion that summarizes your main points

o 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.