This is a true story. A bookkeeper in Oregon wrote 234 checks to herself over time. In total, she took $1.5 million from her company. She was caught and sent to prison for 24 years. But the damage was already done. The company had been in business for over 100 years. It was family owned. After the fraud came out, the business went bankrupt. 85 people lost their jobs. How Did This Happen? The bookkeeper did everything herself. She wrote the checks. She recorded them in the boo

Internal controls are the policies and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud. These controls are vital for maintaining accurate financial reporting, ensuring compliance with laws and regulations, and enhancing operational efficiency. The importance of internal controls cannot be overstated. They help safeguard assets, ensure the reliability of financial statements, and pro