Examine the Supposed Controls on Corporate Behavior: Stockholders, Market Pressures

question 4

Essay

Examine the supposed controls on corporate behavior: stockholders, market pressures, labor unions, and the government.In what ways do these controls fail?

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Definitions:

Internal Controls

Processes and procedures implemented to assure integrity and accuracy of financial and operational information, prevent fraud, and protect the assets of the organization.

Certification

The process of officially recognizing someone or something as having met certain standards through the issuance of a document or label.

Bank Reconciliation

The procedure of aligning the figures in a company's bookkeeping records for a cash account with the equivalent data on a bank statement.

External Auditors

External auditors are independent accounting professionals who examine the financial statements of an organization to ensure accuracy and compliance with applicable standards and regulations.