MCAA U3DB response 1 and 2

Responses
Name
Institutional Affiliation
Response #1
Your discussion has addressed a very crucial issues when it comes to accounting and financial reporting. You have identified when the Treadway commission was formed as well as the founding groups. Your discussion shows that all founding members were interested in improving the realm of financial reporting. The discussion has also identified that the commission was formed to try and identify the causes of fraud as well as how to mitigate such issues. I feel that you should have shown incidences in the past which necessitated such an action. The discussion has also addressed the COSO framework established by the commission. You have done well in addressing the areas to be covered within the framework. I have learned a lot from the manner in which you have applied the framework to Bovar and how it helped them.
Response #2
Your discussion was brief but has focused on the vital areas that needed to be covered within the discussion. You have clearly identified the organization that helped in the formation of the Treadway Commission. This helps create a mental impression of what the founders hoped to achieve and the discussion also lists the functions of the commission. Fraud is a major challenge for most businesses as well as for the government. The discussion addresses the need for regulation in the finance sector so as to ensure businesses conducts their affairs in a legal and ethical manner. From the discussion, one gets to learn that system control is a vital part of each business since they help ensure smooth operations as well as checking for anomalies to be corrected.

You have also addressed the issue of Bovar efficiently.
References
Cruz, S. (2016, October 28). Retrieved from What Are the Five Components of the COSO Framework? https://info.knowledgeleader.com/bid/161685/what-are-the-five-components-of-the-coso-framework
Dunkelberger, D. (2016, December 12). How Can COSO Framework Improve Your Organization’s Internal Controls? Retrieved from https://www.ispartnersllc.com/blog/how-coso-framework-improve-internal-controls/