Companies lose millions of dollars each year through employeetheft and fraud. To prevent this,...

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Accounting

Companies lose millions of dollars each year through employeetheft and fraud. To prevent this, internal controls areimplemented. We will examine the types of controls companies use,and discuss what happens when these controls are missing.
Consider this scenario: You own a small business with 25employees. In your initial post, explain which internal controlsyou would use to protect your assets and ensure that your financialstatements are accurate.

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There is five important idea to control internal matter of business When we implement internal control in our company whether it is big or small it helps us to detect fraud as well as improve the efficiency or quality of the company business The financial statement the company becomes more crystal clear and even external auditors interference will be less Control environment When leaders demonstrate a good ethical and moral framework appear to be approachable about all issues and a commitment to excellence nearly everybody takes notice and adjusts their behavior accordingly It also helps to develop a rapport with your management team to encourage engagement See Answer

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In: AccountingCompanies lose millions of dollars each year through employeetheft and fraud. To prevent this, internal...Companies lose millions of dollars each year through employeetheft and fraud. To prevent this, internal controls areimplemented. We will examine the types of controls companies use,and discuss what happens when these controls are missing.Consider this scenario: You own a small business with 25employees. In your initial post, explain which internal controlsyou would use to protect your assets and ensure that your financialstatements are accurate.