Greenvale Construction Limited Was Started by Four Brothers Who Lived

Essay

Greenvale Construction Limited was started by four brothers who lived in the Toronto area.Over time,the brothers moved to different parts of the country.They decided it was a good idea to keep the company and organize their work as separate divisions under the same company.There are now three divisions,one for each of the brothers who are actively involved in construction.The fourth brother,Ted,is responsible for accounting and record keeping.Ted went back to school and completed an accounting designation,and now has three employees in the accounting area.
Each of the brothers has moved on to specialize in a different kind of construction work.In Toronto,it is mainly new home construction.In Edmonton,the work is primarily renovations of large homes and small commercial enterprises.In Halifax,the work is mid-sized to large commercial projects.All of the brothers prefer to subcontract their work rather than hiring full time construction employees,although some of the subcontract relationships have lasted over fifteen years now.
Required:
Explain what you would do to document your understanding of internal control for Greenvale.Identify potential risk areas where you would need to focus additional attention.