Case Study on Audit and Internal Control
Overview
In america, the administration and auditors of publicly held corporations should consider their inside controls yearly. The aim of the analysis is to search for any management deficiencies. Doing so will Help keep away from any penalties such because the $10.5 million that the SEC imposed on Citigroup Inc. on account of its inside controls failures. See the article from SEC.gov, Citigroup to Pay Extra Than $10 Million for Books and Data Violations and Insufficient Controls.You might be an exterior auditor employed by Citigroup to carry out an audit. You’ll be reporting to Citigroup’s audit committee.Directions
Write a 2–three web page report for the audit committee during which you:
Critique Citigroup’s inside controls and the aim they serve.
Distinguish between operation and design management deficiency.
Decide the explanations that led Citigroup Inc. to pay $10.5 million in penalties.
Suggest methods that can overcome the weaknesses of Citigroup’s inside controls; justify the advice.
Use three sources to help your writing. Select sources which are credible, related, and applicable. Cite every supply listed on your supply web page no less than one time inside your task. For Help with analysis, writing, and quotation, entry the library, or assessment library guides.
This course requires using Strayer Writing Requirements. For help and info, please confer with the Strayer Writing Requirements hyperlink within the left-hand menu of your course. Test together with your professor for any further directions.The particular course studying final result related to this task is:
Consider inside management as an indicator of effectiveness and accuracy of economic statements.
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Audit and Internal Control Case Study
Overview
In america, publicly traded corporations’ administration and auditors are required to look at their inside controls on a yearly foundation. The analysis’s purpose is to establish any management inadequacies. This can help to keep away from penalties such because the $10.5 million effective issued by the SEC on Citigroup Inc. for failing to keep up ample inside controls. See the SEC.gov article, Citigroup to Pay Extra Than $10 Million for Violations of Books and Data and Insufficient Controls You might be an unbiased auditor engaged by Citigroup to conduct an audit. You’ll be reporting to Citigroup’s audit committee. Directions
Write a 2–three web page report for the audit committee during which you:
Critique Citigroup’s inside controls and the aim they serve
