Case study (1)
Control activities mitigate risks that threaten objectives and thus provide reasonable assurance that objectives will be achieved. 
Risks cover both:
· Threats of bad things happening 
· And threats of missing opportunities. 
Some control activities are visible and therefore can be photographed. 
Instructions
1. Photograph two different controls you observe around campus and/or the surrounding community. Use your imagination and ingenuity. Each team must work independently to produce a unique set of pictures. (1 Mark)
a. One of the controls photographed must be control designed to mitigate risks of bad things happening
b. The other control photographed must be control designed to mitigate risks of missing opportunities (that is, controls designed to help something good happen).
2. For each control activity photographed: 
a. Clearly indicate whether the control is designed to mitigate the threat of bad things happening or the threat of missing opportunities. 
b. Then briefly and separately describe: 
i. The objective that the control activity is designed to help achieve. (2Marks)
ii. The risk that the control activity is designed to mitigate. (2Marks)
(Note: The risk you describe must be something other than merely the inverse of the objective.) 
iii. How the control activity is meant to operate (that is, how the control works). (2Marks)
iv. As an internal auditor, how would you test the control activity to determine whether it is operating effectively. (2Marks)
Formal criteria (1 Mark)
The research paper must agree with all of the following criteria:
· Use Cover page that contains (The research subject, Your Instructure Name, Your sections, the date of submission, your names)
· Use A4 page size.
· Set all margins at 2 cm.
· Use font Arial 12 and 1.5 line spacing. ( Use Bold and 14 for titles)
· Paragraphs should be separated by a line space.
· Footer: Insert page number.
· Header: write your student ID and section.