Posted by & filed under Accounting Careers, Internal control, Student life.

Description: In my small university town, Sackville, New Brunswick, Friday saw a tough end to the university year as a major fire not only left several Mount Allison University students and a university staff member homeless, it also wiped out a major social landmark by destroying Joey’s Pizza and Pasta, a restaurant favoured by students, faculty, staff, and town residents. The day started a bit surreal for me. I looked out my apartment window at breakfast time to watch the first few firefighters arrive and enter the upstairs apartment with hoses. It wasn’t long before they began waging war on the smoke and flames from outside, crashing down walls in the process. With all the normal stresses of end of term, this group of students has moved to a different level, though they have noted how a well-organized emergency response by the university helped right away to meet their needs.

Date:  April 8, 2023



Discussion points:

1) Has your university ever suffered a similar crisis for students during your time at school?

2) What tips do you and your classmates have for dealing with exam stress at this time of year?

3) On page 7-3 of Wiley’s Financial Accounting: Tools for Business Decision-Making we see that risk assessment is one of the five components of a company’s system of internal control. If you were a financial officer at a chain of restaurants, what might be some of the key risks you would see?

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