Title: Build an internal control plan for any business/corporation you choose as a case study

Instructions:

Download the annual report of the last two years.

Give a small introduction of the business you choose, as well as a summary of the auditing report of the last two years.

Determine JUST THREE possible transactions of this business, such as: Payroll, Purchase transaction, Sale transaction, Inventory, Personal Information. (nee to go through the Appendix 3 B Page 93 -98)

Make an analytical procedure for the financial statements, Chapter8

Follow the COSO framework to build an internal control for your business (Chapters 2 till 9)

Identifying the objective

Identifying risk (potential risk) related to the transactions that affect reaching the objectives, and measure the risk

Build an environment of the business (follow the principles and focus points you need of this component).

Identify activities of each transactions that help to mitigate any potential risk exists to reach the objectives (talking into consideration information and communication, and monitoring components)