ACC 542 Week 5 Discussion: Components of Internal Control
Discussion Topic for ACC 542 Week 5 Discussion
Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member.
Respond to the following in a minimum of 175 words:
Internal control is a process that is designed to help firms reach their goals and objectives as measured with respect to maintaining reliability, operational efficiency and effectiveness, and consistent financial reporting. In addition, adequate internal control ensures mitigating risks and compliance with regulations and policies.
Explain the five components of internal control.
Reply to at least 2 of your classmates with a minimum of 175 words. Be constructive and professional in your responses.
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