Leadership confronts you, as a controller, and questions the need for an internal control system. Write a

Question:

Leadership confronts you, as a controller, and questions the need for an internal control system.
Write a report in 700 words, justifying the need for the system when controls are in place with insurance and approaches.
Explain why current approaches are valid but why an internal control system will be more beneficial.
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...