Examples of an effective internal control system include having clear responsibilities, documenting operations, separating duties, and setting clear responsibilities for action. No matter what type of organization you choose in your career, internal controls will be relevant.

For your initial post, think about and discuss the transactions and processes you see every day either at work, at school, or as a consumer. What internal controls do you see? What are the controls trying to prevent or detect? What bad thing happens if the controls fail? For the work, school, or consumer scenario you observe, what is a potential act of fraud that could occur and what internal control(s) would you, as a manager, would put into place to deter fraud?