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Essay / Research Paper Abstract
This 5 page paper examines internal control programs, what they are, what makes them effective, how they may materialize and the impact that the impact the Sarbanes-Oxley Act may have on internal controls. The bibliography cites 6 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEintcontrol.rtf
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Unformatted sample text from the term paper:
the rules, but they provide the framework by which the management can monitor and document the progress and meeting or missing of the goals or standards which have been set.
Internal control programs may vary widely in term of interpretation. These may be as simple as a computerized clocking in and out of employees, to a real time monitored
accounting system where all users, inputs and changes are tracked. The program is not only the system, but also the way it is used. For example an employee clocking on
system where employees have individual cards may be fooled by one employee giving another their card. The program also has to include checks that it is being used correctly and
is giving accurate results. Programs are therefore total systems including self and management checking components. This is a simple example, but businesses will have many areas where there are
desired or mandatory standards that should be reached. These may be those for accounting standards, environmental standards, or for a stakeholder approach to be seen and reflect a specific set
or ethics or morals. For internal controls to be effective, whatever level they are set at there are several common characteristics. There will be clear and well defined goals,
set and understood procedures, the roles of those involved will be clear and there will be effective cross checking by independent parties or measures (Watts, 2003). True control measures are
also informative and not only report on results and process but also furnish the audience of the report with sufficient information to take action and change the way the processes
or the results are emerging. If this is not the case then there is not a control program, only a reporting program. These changes need to be able to take
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