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Identify ONE internal control in a company: Home Depot

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Identify and describe ONE internal control in a company (home Depot). How does the control relate to the ONE of the five elements of an effective internal control system (the control environment, risk assessment, control activities, information, and communication and monitoring)? What internal control documentation is used, if any? What risks of material financial statement misstatement are mitigated by the control? Be very specific in your explanation to these questions. Cite references if used.

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Solution Summary

Discussion is 345 words and discusses Home Depot's entity-wide control. Links to the document and website are given.

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Home Depot

http://ir.homedepot.com/phoenix.zhtml?c=63646&p=irol-govhighlights

The control is a code of professional conduct and ethics that all employees ("associates") must read and sign upon hire. It is also maintained on the website as a public document.

Here are the comments on their website and the code is on the link above..

Effective May 16, 2012, The Home Depot ("Home Depot") revised its Business Code of Conduct and Ethics ("Code"). The Code was revised to simplify content, make it more interactive and engaging for our associates, better align it ...

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