Page 1 Please use 12-point font, single spacing. Part A (approximately 1/2 page) - Internal Controls ( 5 points) Define and describe "Internal Controls." Tell why an effective internal control system is necessary and what it is expected to accomplish. Give examples of internal controls designed to protect - - a company's cash, - its inventory, and - the integrity of its financial reports. Explain what a "control environment" is and how a company's managers can establish an effective control environment. Include your thoughts about the importance of every employee's contribution to the control environment