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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Q Companies lose millions of dollars each year through employee theft and fraud. To prevent this, internal controls are implemented. We will examine the types of controls companies use, and discuss what happens when these controls are missing. Consider this scenario: You own a small business with 25 employees. In your initial post, explain which internal controls you would use to protect your assets and ensure that your financial statements are accurate.

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A comprehensive assessment of internal control can assist in recognizing areas of problem consisting of the weakness of security, duties’ segregation, and accounting & operating procedures required to make sure that assets of a firm are safeguarded and financials are accurate in a material manner. Business can be placed better to prevent misstatements and losses equipped with appropriate professional guidance and information.