Assume that you are given an assignment to set up an internal control system for your new, small but rapidly growing, company.

• Tell what type of company you are designing this system for.
• in your own words discuss the objectives of this system, the elements you would use, and how you would use them.
• Describe at least 3 risks and specific procedures to deal with them. How do they meet the objectives you established?
• What might tell you if the system is not working correctly?