2 ParagraphsAPA formatted ReferencesThe CEO of your company has asked you to help prepare for the...

Question

2 ParagraphsAPA formatted ReferencesThe CEO of your company has asked you to help prepare for the upcoming 
company audit. One of the items the CEO has asked you to do is suggest a number 
of sources in which you could get information that would be needed to prepare 
the description of internal control in the audit working papers.

Prepare a memo that you will present to the CEO in which you do the 
following:

Suggest the sources from which you can obtain information that would be 
needed to prepare the description of internal control in the audit working 
papers.
Explain what potential ethical and legal issues could be presented if these 
sources are not found.
Develop solutions for those issues.
In your own words, please post a response to the Discussion Board and 
comment on at least 2 other postings. You will be graded on the quality of your 
postings.
The following rubric will be used for grading:

Grading Rubric

20%

Suggest the sources from which you can obtain information that would be 
needed to prepare the description of internal control in the audit working 
papers.

30%

Explain what potential ethical and legal issues could be presented if these 
sources are not found.

30%

Develop solutions for those issues.

Robert · Accepted Answer

MEMORANDUM 
Date:  March 26, 2013  
To:  The CEO 
From:  Student Name 
Subject: Description of internal control 
____________________________________________________________________________________
Internal controls are the policies, procedures and program to ensure the safeguarding of assets, prevention 
& detection of fraud and errors, and achievement of the entity’s objectives with regard to financial 
reporting etc.  
 Sources from which we can obtain the information about the internal control that would be needed to 
prepare the description of internal control in the audit working papers by the auditor are as follow; 
a. Accounting System maintain for valuation of Investment 
b. Physical verification of  Fixed Assets 
c. System of pay roll 
d. Maintenance of petty cash expenses 
e. Financial Reporting 
f. Valuation of Inventories 
g.

Grading Rubric
20%	Suggest the sources from which you can obtain information that would be needed to prepare the description of internal control in the audit working papers.
30%	Explain what potential ethical and legal issues could be presented if these sources are not found.
30%	Develop solutions for those issues.

2 Paragraphs APA formatted References The CEO of your company has asked you to help prepare for the upcoming company audit. One of the items the CEO has asked you to do is suggest a number of sources...

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