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Details: The CEO of your company has asked you to help prepare for the upcoming company audit. One of the items the CEO has asked you to do is suggest a number of sources in which you could get information that would be needed to prepare the description of internal control in the audit working papers.
• Prepare a memo that you will present to the CEO in which you do the following:
o Suggest the sources from which you can obtain information that would be needed to prepare the description of internal control in the audit working papers.
o Explain what potential ethical and legal issues could be presented if these sources are not found.
o Develop solutions for those issues.Objective:
•Analyze internal control as an integral part of an organization's corporate governance and risk management processes.
•Develop an auditor report attesting to management's assertions regarding the effectiveness of internal controls and recognize situations that present potential ethical and legal issues and develop solutions for those issues.
Do you have any concerns and are there any breaches that have occurred here?
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