BUS 431HW1 - HW#1 1 Internal Controls can be defined as...

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HW #1 1) Internal Controls can be defined as some form of systematic measures like reviews, checks and balances, methods and procedures that are instituted by an organization in order to accomplish a number of tasks. These tasks can include: Helping to conduct its business in an orderly and efficient way; protecting their assets and resources; preventing and detecting errors, fraud and/or theft; making sure their accounting data is accurate and complete; providing company information in a reliable and timely manner; making sure that the company’s plans and policies are being enforced and followed properly. The source of this information was businessdictionary.com. 2) The relevance of the Treadway Commission is that this commission in 1992 established an internal control concept model that has been adopted by many organizations around the world. The Treadway Commission gave a clear definition to what they felt internal controls consisted of and how these factors can affect the company and help them to meet goals within the company. This
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  • Spring '11
  • Noname
  • Committee of Sponsoring Organizations of the Treadway Commission, Treadway commission, Sponsoring Organizations

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BUS 431HW1 - HW#1 1 Internal Controls can be defined as...

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