Case Study on Audit and Internal Control Critique Citigroup’s internal controls and the purpose they serve
In the United States, the management and auditors of publicly held companies must evaluate theirinternal controls annually. The purpose of the evaluation is to look for any control deficiencies. Doing sowill help avoid any penalties such as the $10.5 million that the SEC imposed on Citigroup Inc. as a result ofits internal controls failures. See the article from SEC.gov, Citigroup to Pay More Than $10 […]