ACC 544 Entire Course (Internal Control Systems ) ACC 544 Week 1-5 Includes All DQs, Individual and Team Assignments
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ACC 544 Week 1 Recommendation Brief for an Internal Auditor A client has an out-of-control system. A recommendation has been made to hire an internal accountant. Write a recommendation brief of no more than 700 words for the client, justifying the benefits of using an internal auditor. Conclude your recommendation by referring a person for the job based on their background. Explain how the background benefits the client. Discussion Questions DQ1 Who do you believe is primarily responsible for risk management for an organization? DQ2 What is the primary role of the internal audit department? What is the best placement for the internal audit department in the org chart and why?
ACC 544 Week 2 Individual Assignment Justification for an Internal Control System Leadership confronts you, as a controller, and questions the need for an internal control system. Write a report of no more than 700 words, justifying the need for the system when controls are in place with insurance and portfolio approaches. Explain why current approaches are valid but why an internal system will be more beneficial. Discussion Questions Discuss the reasons why the portfolio approach is an effective tool in managing risk.
How does insurance manage risk? Explain your answer.
ACC 544 Week 3 Individual Assignment Checklist for Evaluating Internal Controls Prepare a comprehensive checklist for evaluating internal controls. Apply the checklist to outline phases of the control evaluation. Discussion Questions What are some major components of an internal control system? Are these components always necessary? Explain your answer. What is the benefit of evaluating an internal control system in phases? Explain your answer.
ACC 544 Week 4 Learning Team Assignment Controls for Inflows Design a proposal for appropriate controls to cover cash, sales, accounts receivable, inventory, and production Discussion Questions What are several conditions that may lead to fraud? To what type of fraud may these conditions lead? Explain the details of a fraud scheme that internal controls cannot impede because of inherent limitations.
ACC 544 Week 5 Controls for Outflows Learning Team Assignment: Controls for Outflows Design a proposal for appropriate controls to cover purchasing, accounts payable, cash disbursements, finance, investment, and payroll. Include at least 3 references in your paper. Discussion Questions Explain some risks inherent in the acquisition and expenditure cycle. How may these risks be mitigated? Explain some risks inherent in the payroll cycle. How may these risks be mitigated?
ACC 544 Week 6 Individual Assignment Controls for Information Technology (IT) and Reporting and Evaluation Imagine you are a company controller. Identify the internal control reporting options. Create criteria against which the options may be evaluated. Include internal controls for IT.
Published on May 15, 2014