An Internal Control Evaluation Tool for Property Expenditures

This paper presents a previously unpublished tool for conducting the initial assessment of internal control objectives and activities for the expenditures cycle of companies with income-producing properties. Variations of this tool are used by Certified Public Accounting firms in their independent audits of such companies. We discuss the tool's potential usefulness to both independent auditors and executives of such companies, as well as the tool's place within the existing literature on internal control. How the quality of the tool could be assessed is also discussed