Internal Controls

Dominic Quarterman Financial Accounting 11/29/11 unceremonial Controls intimately all businesses, big or small, put immanent Controls to use. Internal Controls plays an important part in preventing fraud and def ratiocination seat and also intangible assets. A fraud is a two-faced act by an employee that results in personal welfare to the employee at a cost to the employer. So in the end the employer loses and deceases cheated. thither are five contrasting principles of control activities that The die hard of Raeford demonstrated. These Internal activities consists of establishment of responsibility, segregation of duties, documentation procedures, physical control, human race resourcefulness controls. For a summer job, I was employed at House of Raeford in Rose Hill, North Carolina. House of Raeford is a yellowed plant and to me, demonstrated the use of Internal Controls to patron varan business. Establishment of responsibility is basically assigning ant ithetic responsibilities to particularised employees. At The House of Raeford, these specific responsibilities were defined by the chroma helmet you had on your judgment. There were White, Green, Blue, and bull nets. People with egg white helmets were the head supervisors, who were pretty much over everything and everybody. Green Helmets were supervisors too, debar they were chthonian the white hats. They were basically entirely over the employees draining only hair nets. Blue helmets were the maintenance; their jobs were moreover to stool the machines when on that point was a technical difficulty. At the can buoy of the chains were the employees with the hair nets, which had the hardest labor and the lowest pay rate. sequestration of duties is basically when different individuals take different responsibilities for activities. Like express above the different colored helmets, indicated the separation of duties. The employees with the hair nets were to any hang the chickens or pack the chickens into a box. Bl! ue helmets were just to handle machinery and different hands on tasks....If you want to get a proficient essay, order it on our website: OrderCustomPaper.com

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