I-05.06 Problem

I-05.06 Problem - I-05.06 Form a team with four other...

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I-05.06 Form a team with four other classmates. This problem requires your team to visit a business that is willing to share some information about their control procedures, so try to form teams such that at least one team member has a contact or relationship that will facilitate the business visit. Visit the business and discuss their general control environment and control procedures. Inquire about how such procedures were created, and the necessity for such controls. Determine if any specific problems prompted the implementation of any unique controls. Finally, each team member should focus on one of the following control dimensions and identify an example of how it is utilized by the entity: Member #1 Limited access to assets -- identify some entity owned asset that is protected by limited access. Prepare a brief report to share with your class about the nature of the protected asset, how it is protected, and why. Member #2
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.

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