UCLA The Concept of Internal Controls of a Company Discussion

Instructions:

• In your own words describe the concept of Internal Controls. What are the objectives and elements of the control environment?
• In your own words discuss some of the ways that a company can maintain control over its various assets and business processes.
• In your own words discuss any experiences you have had with internal controls either at work, or in your personal life (passwords on your accounts, returning a purchase to a store, etc.).
• Discuss anything that you found particularly interesting, or particularly difficult to understand. This is important as this will help me to help you.
• After you have replied, please respond to at least two of your classmates postings and further discuss this week’s discussion topic with each other.
• Make sure your responses are meaningful and discuss what your classmates have shared and your thoughts on it. Avoid posting short responses like “I agree”.
• If there is anything that your classmates are having trouble understanding and you can help, please do!

Evaluation:

Your introduction will be graded using the attached rubric.