SCLA Goals

SCLA Goals

1. Follow internal controls procedures in business operations

   • Decide which internal controls might be applicable in different business situations
     • Understand the different types of internal controls activities
       • Define the different types of internal control activities
         • Describe what the procedure controlling is for
         • Describe what could go wrong if the control isn't in place
         • Segregation of duties
         • Authorization of transactions
         • Supervision / monitoring of operations
         • Physical safeguards
         • Retention of records
         • Reconciliation
         • IT controls
         • Top-level review of operations / performance
         • Describe existing and potential situations in which internal controls would apply
   • Recognize the importance of the internal controls process
     • Understand the relationship between internal controls and SOX Compliance
     • Articulate the role of internal controls in corporate accountability and meeting business objectives