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eral Laws for Internal Control Compliance
The foundation for Internal Control Compliance rests in a solid internal control framework as well as adherence to the laws established by the Federal Government towards Internal Control. The internal control framework for many organizations is based on the COSO framework. The Committee of Sponsoring Organizations (COSO) was formed in 1987 to study and define the internal control framework. This committee, in 1992, defined the COSO framework (also known as the Internal-Control Integrated framework) which is basically the highest standard for any organization's internal framework to be modeled after (Campbell, Campbell & Adams, 2006). The three objectives of COSO are efficient and effective operations, accurate financial reporting and compliance with laws and regulations (Applegate and Willis, 1999). The five essential components of an effective internal control framework are: the control environment, risk assessment, control activities, information and communication, and monitoring (Applegate and Wills, 1999). These components define the tasks for mangers and auditors to develop, implement and monitor the internal control framework for their organization.

The Federal laws that continue to play a strong role in the adherence of internal control are the FCPA Act of 1977 and Sarbanes Oxley Act of 2002. The FCPA Act requires publicly traded companies to sustain records that precisely and honestly represent their financial transaction as well as have an acceptable system of internal controls (LaCroix, 2007). The Sarbanes Oxley Act of 2002 requires senior management to report on the effectiveness of their organization's internal control along with their financial statements (Savage, Norman & Lancaster, 2008). It also holds senior management legally responsible for their actions in the development of their organizations' financial statements (Savage, Norman & Lancaster, 2008).

Roles of Senior Managers and Auditors
As mentioned earlier, senior managers are responsible for developing and implementing the internal control integrated framework and auditors are responsible for testing the validity of internal control compliance as it relates to these federal laws. According to D'Aquila (2001), the integrity and ethical values of senior managers serve as a foundation for organization's internal control framework. The first four essential components of the COSO framework define the tasks of senior managers in developing and implementing an internal control framework. The fifth component which is monitoring is primarily done by auditors.

It starts with the control environment where senior managers lay the foundation for an internal control system by providing the essential authority and configuration for a framework. This includes developing a disciplined management philosophy, establishing values centered on ethics, allocating efficient leaders, attaining staff competencies at all levels, and fostering an environment where authority and responsibility is eagerly accepted (Campbell et.al, 2006). The next step is risk assessment where senior managers detect and evaluate relevant risks to achieving predetermined objectives (Hubbard, 2003). After risk assessment, senior managers establish control activities which are the policies, procedures, and practices that ensure management goals are achieved and risk is alleviat