Essays on Internal Control

Computer Risks and Exposures
Words • 1454
Pages • 6
The essay sample on Computer Risk dwells on its problems, providing a shortened but comprehensive overview of basic facts and arguments related to it. To read the essay, scroll down. Computer Risks and Exposures Computers of all kinds within an organisation are constantly faced with a variety of risks and exposures. It is helpful if we first define these terms: •Computer risk Probability that an undesirable event could turn into a loss •Computer exposure Results from a threat from an…...
AuditInternal ControlInterviewManagementRisk
Safeguarding Of Assets
Words • 1054
Pages • 5
Internal auditors should review the means of safeguarding assets and, as appropriate, verify the existence of such assets Safeguarding of assets is those policies and procedures that “provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements. This definition is consistent with the definition provided in the Committee of Sponsoring Organizations (COSO), Reporting to External Parties, which provides the following definition of…...
AuditEconomyInternal ControlManagement
Capstone Questions
Words • 348
Pages • 2
In the wake of accounting scandals over the past several years, how has the As urbane-Cooley Act (SOX) of 2002 affected the practice of accounting? What is the role of internal controls in complying with SOX (2002)? The Serbians-Cooley Act (SOX) of 2002 is an act pass by the Congress of the United States in the year of 2002 with the intention to protect investors in case of a possible fraudulent account act which normally are conducted by the organizations.…...
AccountingBiologyFree PapersInternal Control
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How To Prevent Inventory Fraud
Words • 612
Pages • 3
The Impact of inventory fraud can be expensive and affect an organization’s reports. Inventory errors will not only affect the balance sheet but the Income statement as well. Errors from theft or fraud wealth the physical Inventory will misstate the costs of goods sold, gross profit, and net Income. If the losses from fraudulent are covered up, the organization will be misleading the government by not abiding by the fair disclosure responsibility, and basically guarantees unreliable ND false information within…...
EconomyInternal ControlInventory
The Auditor and Fraud
Words • 1157
Pages • 5
EXPLAIN THE RESPECTIVE ROLES AND RESPONSIBILITIES OF MANAGEMENT AND AUDITORS IN THE PREVENTION AND DETECTION OF FRAUD. The primary responsibility for fraud detection lies with management. This arises due to a contractual duty of care. Directors are able to discharge their duty toward prevention and detection of fraud and error in many ways, for example: * Complying with the Combined Code on Corporate Governance * Developing a code of conduct, monitoring compliance and taking action against breaches * Emphasising a…...
AuditIntegrityInternal ControlLaw
Maybank S Core Values As Organization Values Accounting Essay
Words • 2366
Pages • 10
IntroductionKhoo Teck Puat went to work for OCBC, get downing his calling as a simple bank clerk. By the 1950s, Khoo had risen to a place of senior executive. By the terminal of the decennary, nevertheless, Khoo recognized that his chances at OCBC remained limited. Given the deficiency of farther promotion unfastened to him at OCBC, every bit good as what he considered the company 's narrow position on its hereafter, Khoo decided to put up his ain bank and…...
AccountingAuditBusinessInternal ControlLifePersonality
Auditor's Independence Case Study
Words • 10765
Pages • 44
A series of financial scandals revealed a key weakness in the American business model: the failure of the U. S. auditing system to deliver true independence. We offer a two-tiered analysis of what went wrong. At the more micro tier, we advance moral seduction theory, explaining why professionals are often unaware of how morally compromised they have become by conflicts of interest. At the more macro tier, we offer issue-cycle theory, explaining why conflicts of interest of the sort that…...
AccountingAuditBiasFinancial StatementInternal Control
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FAQ about Internal Control

How To Prevent Inventory Fraud
...Strong controls, achieved is what is ordered, each receiving report should match the company’s invoice. Lastly, additional security measures can be implemented to prevent theft. For example, restricting unauthorized access, if business is not opera...
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