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What Are Two Important Internal Control Procedures That Companies Should

question 64

Essay

What are two important internal control procedures that companies should implement to prevent misstatements in owners' equity when a company maintains its own records of stock transactions and outstanding stock?


Definitions:

Severe Emotional Distress

A mental suffering or anguish induced by incidents of harm or injury, which can form the basis for a personal injury lawsuit if caused by someone else's negligent or intentional actions.

Embezzling Funds

The act of wrongfully taking or appropriating money or assets entrusted to one's care, typically in a position of employment or trust, for personal use.

Defamation

The act of communicating false statements about a person that injure the reputation of that person.

Slander

A form of defamation manifested through spoken words, gestures, or other transient forms, damaging a person's reputation.

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