While out at a consulting engagement, one of your graduate staff members comes to you with the
Question:
While out at a consulting engagement, one of your graduate staff members comes to you with the following question, ‘I’m confused. Since I first studied AIS at uni, I have never really understood this concept of control . . . I mean what is the relationship among the control environment, organizational objectives and the internal control system?’
Required:
Prepare an answer in response to the graduate’s concerns. You should include a description of what an internal control is, the relationship between internal control components, organizational objectives and the different divisions of the organization, and a description of the control environment, general controls and application controls and how they relate to one another.
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher