Internal Controls

Running head: INTERNAL CONTROLS 1 Internal Controls Name XACC /280 fearful 15, 2010 Instructor INTERNAL CONTROLS Internal Controls Principles of Internal Controls 2 I will treat two of the main goals of intrinsic controls in this paper, as s well(p) as the effect on controls of the Sarbanes-Oxley Act of 2002, the effects of inhering control deficiencies on stock prices and the limitations of internal controls. Internal controls argon essential for companies, agencies and private organizations that wish to succeed in the grocery and avoid the major shortfalls that disregard become a conjunctions undoing. Internal controls atomic number 18 not just for the justification of the public. They also help a company to achieve its goals and penetrate its objectives effectively and efficiently. Each specific objective can be measured by the recorded transactions that are applicable to that objective. Safeguarding assets is a main goal of internal control. This has two sub-goals, which are safeguarding from employee theft and safeguarding from unauthorized use. Both of these goals help to ensure dependability and accuracy in accounting data.

Internal controls help a company to meet its stated mission as well as avoid obstacles that may stand in the direction by giving access to information that allows the company to try its progress and maximize the use of its resources effectively. Management and administrators can move quickly to changes in the competitive and overall economic temper and modify their operations through the use of Standardized, regulated information. (Weygandt, Kimmel, & Kieso, 2008). It is an demonstrable fact in clientele dealings that all members of the business world do not conduct themselves in an honorable manner. This can be true for employees as well as consumers. Employees who are dishonest or simply inefficient can be readily identified and their inappropriate activities stopped when internal controls are in place. Internal controls also help INTERNAL CONTROLS to... If you motive to get a full essay, order it on our website: Orderessay

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