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Developing and Implementing Effective Internal Controls and Maintaining Employee Morale

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Submitted By mpabbey
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RUNNING HEAD: Internal Controls and Maintaining Company Morale

FINAL PAPER

DEVELOPING AND IMPLEMENTING EFFECTIVE INTERNAL CONTROLS AND MAINTAINING EMPLOYEE MORALE

By
Melissa P. Abbey

EM 290D DIRECTED STUDEY IN MANAGEMENT
Submitted To
Professor Donovan A. McFarlane, D.B.A.

FREDERICK TAYLOR UNIVERSITY
Moraga, California
September 25, 2013
Abstract
This report explores the aspects and importance of effective internal controls and how to maintain positive employee morale while developing and implementing organizational processes. The author explores various concepts and components of internal controls and the relationship of implementing effective controls while maintaining positive employee morale. Using a variety of resources including academic journals and electronic resources-informational sites, the author outlines standard components for developing effective internal controls and strategies for implementation in order to maintain positive employee morale.
Keywords: Internal Controls, risk management, policies and procedures, organizational structure and culture, roles and responsibilities communication, collaboration, risk assessment, monitoring.
Introduction
All Organizations, no matter the size should have some type of internal controls in place. Although broad in scope, internal controls are intended to prevent companies from securing financial risk or wrongdoing and increase the chances of success while obtaining a specific objective; any business that does not implement and monitor internal controls is surely at risk. On the other hand, risk management is about dealing with the possible and actual risks to a business' success. According to Wollacott (2013), knowing the techniques and issues regarding both internal control and risk management is only half of the business equation. The other half of the equation is to understand how

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