The term "controls" refers to any aspects of one or more of the components of internal control. Think of one corporate transaction, whether financial or non- financial, that may take place in any level of organization (which may involve shareholders, directors, president, senior management, department, individual employee in the organization). Indicate one possible objective of this transaction, then, provide a control to ensure that such transaction will run smoothly and achieve its objective. Explain briefly how your suggested control helps the 72 transaction achieve its objective. You may suggest a control already implemented by certain organizations, or you may develop your own control.

The term "controls" refers to any aspects of one or more of the components of internal control. Think of one corporate transaction, whether financial or non- financial, that may take place in any level of organization (which may involve shareholders, directors, president, senior management, department, individual employee in the organization). Indicate one possible objective of this transaction, then, provide a control to ensure that such transaction will run smoothly and achieve its objective. Explain briefly how your suggested control helps the 72 transaction achieve its objective. You may suggest a control already implemented by certain organizations, or you may develop your own control.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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