ACC 290 Week 5 DQs

Discussion Questions

How would you describe the key internal controls that should be in place to protect cash in a cash rich environment such as a merchandiser?

Using examples of weak internal controls in an organization you are familiar with, how would you improve those controls to better safeguard a companys assets? Would these internal controls differ with a different type of business?

What is the Sarbanes-Oxley Act of 2002? Why did it come about? How have the new rules in the Sarbanes-Oxley Act of 2002 affected the way accounting departments and companies operate? What are some positive outcomes from these changes?