Describe what you think is the most important control activity that a company can implement. Why do you think that the one you chose is the most important?
Lets start by defining Internal Controls. What are they and what is their purpose?
Describe one of the three elements that are present when fraud occurs. Of the three elements, which do you think is present first in an ethical situation?
Lets start this week by discussing each of the three elements of the Fraud Triangle. Pick one of them, give a definition and describe how it interrelates with internal controls.