Essays on Internal Control

Essays on Internal Control

We have gathered for you essays on Internal Control in one place to help you quickly and accurately complete your assignment from college! Check out our Internal Control essay samples and you will surely find the one that suits you!

We've found 51 essays on Internal Control

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The Olympus Scandal

This paper describes the case of Olympus, a Japanese manufacturer of optic equipment, at which in early 2012 a scandal was uncovered which was soon dubbed to be one of the largest loss-concealment schemes of Japan. In the 1990’s, Olympus incurred significant losses on financial …

Corporate Social ResponsibilityInternal AuditInternal Control
Words 7037
Pages 29
Characteristics of an effective system of internal control

In accounting systems, certain controls are needed to ensure that employees are doing their jobs properly and ensure that the system runs properly. These checks are in the best interest of the organization. These controls come in the form of internal controls for the system. …

AccountingInternal Control
Words 1553
Pages 7
Audit Syariah

Tiffy Tiffeny Edmund 62288211087 Audit 1 Audit Syariah Definition Audit is a process to investigate and verify an account, while Syariah is the rule of Islam (Hukum Islam). Therefore, Audit Syariah is the process to analyse, check, investigate and to make sure the operation and …

BusinessContractInternal ControlJustice
Words 814
Pages 4
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Internal Control Requirements for Publicly Traded Companies

In a meeting last week, the president of LJB expressed interest of going public in the near future and asked us about the internal control requirements for such action. To become publicly listed, LJB must follow the Sarbanes-Oxley Act of 2002 (SOX), which requires all …

AccountingInternal ControlPayment
Words 1376
Pages 6
Jack Greenberg, Inc.

Family owned business is a business that is owned by one family, most of the shareholders are from the same family. One of the major problems in this type of business is a conflict in interests among the family’s member. The auditor should be careful …

BusinessInternal ControlManagement
Words 901
Pages 4
Internal Control Research

In order to carry out my research on Internal Controls within ‘The Bargain Centre Supermarket’ I have observed over a period of time, while I was employed part time, the different type of Internal Control procedures set place. I have also interviewed the owner, and …

Internal Control
Words 668
Pages 3
IT General Controls Risk Assessment Report

Background: In accordance with our IT audit plan, the Foods Fantastic Company (FFC) Audit Team has performed an ITGC review of the 5 critical ITGC areas and in-scope applications so as to enable the audit team to follow a controls-based audit approach and be able …

BusinessInternal ControlManagement
Words 84
Pages 1
Internal Control Procedures for Cash

Introduction For several years now it has been proven that having fine internal control practices allow organizations to achieve their objectives while at the same time maintaining an environment that centers on accountability and ethics. Creating an ethical environment at all ranks of the organization …

BankInternal ControlMoneyPayment
Words 107
Pages 1
Internal Control System

The two primary goals of an internal control system are to safeguard assets and manage resources. This action by the organization, reasonably ensure that their specific goals and objectives will be met within compliance. This system consist of policies, measures and procedures designed to assist …

AccountingInternal Control
Words 838
Pages 4
Case 1.12:Madoff Securities

Recent developments involving the case Madoff Securities: Bernie Madoff’s son, Mark Madoff committed suicide on December 11, 2010. His suicide may have been influenced because there was an investigation on Mark’s children on grounds that Bernie transferred funds to their accounts. Peter Madoff pleaded guilty …

BusinessFinanceInternal Control
Words 1066
Pages 5
Trolley Dodgers Case

Executive Summary The Trolley Dodgers was exposed that it had internal control problems existed. The other hand, found that employees embezzlement. The first part of this report identify and explain the characteristics of employee fraud indicated in Dodgers case. such as perpetrator must gains the …

BusinessInternal AuditInternal Control
Words 2025
Pages 9
Corporate Structure of Yamaha

October 28, 2010 Message from the President Management Emphasis on CSR Yamaha Corporation Group CSR Policy Group-wide Quality Management System Corporate Governan Compliance Group-wide Quality Assurance Structure Quality Management System Quality Risk Management Quality Improvement Measures Stronger Customer Support System Improving Convenience by Standardizing Customer …

Corporate Social ResponsibilityInternal ControlQuality Management
Words 9004
Pages 37
World Com Case

WorldCom: internal audit lessons to be learnt On June 9 2003, the U. S. Bankruptcy Court of New York issued a report on the WorldCom accounting fraud that expands on the court’s earlier findings of mismanagement, lack of corporate governance, and concern regarding the integrity …

AccountingInternal AuditInternal Control
Words 1060
Pages 5
Internal Control System Checklist

Internal Control System Checklist ACC/544 Monday December 03, 2010 Dr. YouKnew Abstract Internal control systems are purposed to aid in managing an array of risks, while monitoring the integrity and reliability of operational and financial data. Internal control systems ensure the proactively of audits, at …

AccountingInternal Control
Words 739
Pages 3
Oceaneering International Services

The purpose of this report is to evaluate the min-max inventory planning activities of Oceaneering International Services, with regards to the company’s success factors in materials management as resource management capability for achieving competitive advantage and sustainability. The continued recognition and facilitation of Oceaneering International’s …

Internal ControlManagementSupply Chain Management
Words 884
Pages 4
Internal Control Procedures

The internal control system should be designed to detect and prevent fraud, errors and omissions, and material misstatements, but it can only provide reasonable assurance that the financial statements are free from material misstatements. The best designed internal control system will not prevent management override …

AccountingInternal Control
Words 364
Pages 2
Internal Control Systems and Financial Performance in SACCOs

This chapter reviews related literature from various sources according to the objectives of the study. The review of available literature therefore attempts to establish whether there is a relationship between internal control systems and financial performance in SACCOs. Therefore the chapter presents the theoretical review …

DiseaseGovernanceInternal ControlInvestment
Words 1867
Pages 8
Ongc Corporate Governence

Corporate Governance Corporate Governance is a reflection of the company’s culture, their relationship with stakeholders and commitment to values. ONGC has a pioneer in benchmarking its corporate governance practices with the best in the world. ONGC Corporate Governance philosophy is based on the following principles: …

Corporate GovernanceInternal AuditInternal Control
Words 1142
Pages 5
Internal Control and Shady Accounting Practices

Group 3 1. Why did accounting fraud occur at WorldCom? Fraud occurred at WorldCom for a variety of reasons. The senior executives had unchecked power because the board of directors were only figure heads, the ethics hot-line was nonfunctional, and in internal audit department did …

AccountingInternal Control
Words 1670
Pages 7
Internal Control and Risk Evaluation

A risk is the chance of a negative event occurring. Internal controls are policies and procedures set in place to reduce the occurrence of an associated risk. Risks are never entirely eliminated; however, internal controls help reduce the occurrence and balance the risk. This brief …

AccountingInternal Control
Words 616
Pages 3
Justification for an Internal Control System

Over the past years many organizations have fallen because of inadequate financial reporting and ineffective controls. To overcome this dilemma, the creation of the Sarbanes Oxley Act (SOX) of 2002 requires corporations to take full control over its financial reporting and accounting by placing internal …

InsuranceInternal Control
Words 714
Pages 3
Aat Project Based on the Internal Control of Cookridge

1. Terms of Reference 1. 1. The researcher made investigation on the effectiveness of the internal Controls and accounting system of Cookridge Carpets Company. It also has some additional contents such as recommendations that helps the company to improve its strengths and weaknesses to protect …

AccountingCreditInternal ControlPayment
Words 5672
Pages 23
How Sarbannes-Oxley Act affects internal controls

Sarbanes-Oxley Act which is also referred to as the public company accounting reform and investor protection act is a wider legislation passed in 2002. The SOX act has provisions touching on the standards for all the United States public firms’ boards, management as well as …

ActsInternal ControlJustice
Words 581
Pages 3
Trolley Dodgers Case Persuasive Essay

CASE STUDY: THE TROLLEY DODGERS 1. Identify the key audit objectives for a client’s payroll function. Comment on both objectives related to tests of control and those related to tests of control s and those related to substantive audit procedure. The key audit objectives for …

AccountingInternal ControlManagement
Words 1569
Pages 7
Foltless towers hotel – an internal controls case study

Introduction      What do you think will happen to a business not being managed by the investor itself?  It can be as chaotic as a jungle or may evaporate as water under the heat of the sun without even trying to see the sunrise.  This …

Case StudyHotelInternal Control
Words 64
Pages 1
Recommendation Brief for an Internal Accountant

A client has an out-of-control system that is in need of change to get it back into control. Internal controls are an important part of a company. The role of internal controls is to keep mistakes from occurring as much as possible. It also aids …

Internal AuditInternal ControlManagement
Words 688
Pages 3
Justification for an Internal Control System Critical Analysis

The internal control system has been used since the company was in need of the system and until this day it has been working to its fullest potential. Internal control plays an important key in making sure that the accounting information, financial data, meeting the …

InsuranceInternal Control
Words 87
Pages 1
Internal Control

What is internal control and why is it important The American Institute of Accountants first defined the term internal control in 1949, followed by further clarifications in 1958 and 1972. In 1977 publicly held companies came under legislation to adequately implement controls to protect their …

Internal Control
Words 1190
Pages 5
Chicken Run Analysis

INTRODUCTION Case Background This case is about the Small medium enterprises, Excel Poultry & Meat Sdn Bhd (EPM) that face management, production, financial and internal control problems. Besides that, In this case also show conflict of interest between General Manager of EPM, En Selamat with …

BusinessInternal ControlMarketing
Words 2520
Pages 11
Foundation of Control

Organizational control is the process of assigning, evaluating, and regulating resources on an ongoing basis to accomplish an organization’s goals. To successfully control an organization, managers need to not only know what the performance standards are, but also figure out how to share that information …

BusinessInternal ControlOrganization
Words 2326
Pages 10

Find extra essay topics on Essays on Internal Control by our writers.

Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies.


There are three main types of internal controls: detective, preventative, and corrective. Controls are typically policies and procedures or technical safeguards that are implemented to prevent problems and protect the assets of an organization.


The seven internal control procedures are separation of duties, access controls, physical audits, standardized documentation, trial balances, periodic reconciliations, and approval authority.


The American Institute of Accountants first defined the term internal control in 1949, followed by further clarifications in 1958 and 1972. In 1977 publicly held companies came under legislation to adequately implement controls to protect their financial information.

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