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Power Point PresentationDevelop a slide show providing general information to your colleagues about the component of internal control from the COSO framework you wrote about in your final project report. Identify the component you selected, how you related that component to an effective system of controls. Your colleagues will be interested in why you selected the component you did. Indicate why you think this component is of particular value to an overall system? Are there any particular concerns you have for individuals in applying this component? The slide show is not necessarily limited in length, but an appropriate slide show would probably include no less than four slides and is not likely to include more than ten.The ability to develop a slide show is often very important in one’s career. This assignment provides an opportunity for students new to this activity a chance to practice. There is a balance between providing a full explanation in a report or narrative writing and using a slide show to highlight key issues. As we all have encountered in some venue, often items referenced in a slide show are discussed by an oral presenter in front of a group. Most successful slide shows include bullet lists with the key points that would be discussed if you presented your case before the class or a live audience.Slide shows are not a place for a copy and paste of the words from your narrative submissions. Also, most of us have been to a presentation and heard the presenter refer to one of the slides as “sort of like an eye chart,” because the text is too small to see and read. Summarize on your slides, rather than including long text. A very good slide show should be suitable for you to stand up and present to an audience.If some content in the slides is based on a published source, a citation and reference list using APA formatting would be appropriate. That includes a reference list at the end of the slideshow and small citations by the content supported by a reference. For example, you might refer to the Fraud Triangle or an aspect of the COSO Framework in supporting your points. A reference to those would be appropriate.Fraud Project ReportOur classroom includes access information to the recent publications of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The COSO Framework for Internal Control is the most recent guidance helpful to organizational leaders seeking to develop and implement good systems of internal control.Access information is available from the Content area within our classroom. It might be necessary to copy and paste the URL address provided into your Internet access system (for example, Safari, Chrome, or Internet Explorer). The necessary access code and password are provided.For this assignment, select oneComponent of Internal Control discussed in the framework:Control Environment Risk Assessment Control Activities Information and Communication Monitoring ActivitiesDiscuss the implications of the selected component or control area. How does this relate to the types of fraud you have studied during the course, like larceny? How do the controls you selected build a better culture in an organization? You might refer to a case you presented during the class and how the issues from that case might have been avoided, if this component of internal control had been applied effectively.a) When you select one of the components from the internal control framework, you are not necessarily stating your view that one isbest compared to the others, since each has a unique role in the whole.b) Toward the end of your discussion of the component you considered, comment on how that component interacts with or supports other components in making up the whole. That is the point of this ending.Please read All of the instructions below to complete this assignment. I have attached two documents below. I need one more page added to the internal control document and 5 slides added to the power point.This Report unites the various sources and information you have collected during the course. The Report, including a reference list, is to generally comply with the American Psychological Association (APA) style rules. Times New Roman font is standard for APA formatting. As noted elsewhere, the Report should be single-spaced with a blank line between paragraphs.Completed Reports are to be posted to the Project Report Assignments folder.
Power Point Presentation Develop a slide show providing general information to your colleagues about the component of internal control from the COSO framework you wrote about in your final project rep
Running Head: INTERNAL CONTROL 0 Components of Internal Control Name of student; Course; Institution; Date of submission; Internal Control Components of internal control are procedures and policies used in organizations by management and employees to ensure integrity. These components include; control environment, risk assessment, control activities, information & communication and monitoring. Their main objectives are to ensure, accuracy & validity, authorization, completeness, maximum security, duty segregation and error management. Risk assessment being one of the components is a process of identifying possible risks within the organization and weighing their possibilities to occur. During the assessment, tests may be done. These tests map the predicted risks to the internal controls and they also show existing gaps between the two- controls & risks. For every successful transaction done or intended, an assessment for control risks is done to detect, correct & prevent possible fraud activities. Risk assessment is also a legal requirement that aids to bring about control and safety by reasonably handling situations. The assessments done are used to rank risks based on how critical they seem. This is done so that resources may be allocated according to priority. This component has five main steps; identification of risks, identifying victims, taking precautions, recording & implementing findings, reviewing the assessment. In the process of assessing the risks, fraud reports may be made. These reports act as vital tools that are very useful to provide descriptive information on cases of theft. (Brasel, Hatfield, Nickell & Parsons,2019) Other than that the process also creates boundaries that prevent such happenings. For the reports to be made, organizations sign up with licensed fraud detecting examiners who give the examination programs. These processes aid in defining an organization’s future- building trust, proper planning, accountability etcetera. The interaction of risk assessment with other components is important for governance (Chan,Chen & Liu,2020)Once the risks are known, a framework is required for feedback and monitoring hence supporting the process and creating room for objective and strategy establishments and hypothetically measuring the success of the organization. References Brasel, K. R., Hatfield, R. C., Nickell, E. B., & Parsons, L. M. (2019). The Effect of Fraud Risk Assessment Frequency and Fraud Inquiry Timing on Auditors’ Skeptical Judgments and Actions. Accounting Horizons, 33(1), 1-15. Chan, K. C., Chen, Y., & Liu, B. (2020). The Linear and Non-Linear Effects of Internal Control and its Five Components on Corporate Innovation: Evidence from Chinese Firms using the COSO Framework. European Accounting Review, 1-33.

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