Pick a company (preferably one you have worked for) and write about its internal controls. You are to cover at least 3 control activities of internal control:
Segregate duties (custodial, recordkeeping, authorization, and verification)
Restrict access (safeguarding of assets and information, security measures)
Establish responsibility (proper authorization)
Document procedure (adequate documents and records, audit trail of source and ancillary documents)
Independently verify
Sample Solution
