Internal Control College Essays Samples For Students

Introduction

Auditing is an independent and systematic examination of statements, records, data,performances and financial state of a business for a spsecific purpose. In all types of auditing, auditors recognizes and perceives all the proposals forwarded to them for review,collecting evidence and evaluation and while using this basis they formulates the final judgment that is disseminated through the audit report. Audits offers third person assurance to many stakeholders directing on wether the subject under discussion was from misstatement or not. All categories of subjects may be audited including internal controls, project regulation,water management,quality regulation, and power conservation.

The main audit risks and the associated responses

Sensitivity of ...

Limitations of Internal Control system

Internal control system is the process, which provides assurance to achieve objectives in the categories of reliability of financial accounting, efficiency and effectiveness of financial operations and compliance with regulatory laws. It also protects the data from unauthorized use of employees. In spite of the effective design of internal control systems there are several limitations, which include cost vs. benefit, judgment, breakdowns, management override and collusion . The cost required to setup an internal control system should not exceed its benefits. Restriction on the cost prevents the management from implementing an accurate internal control system, which leads to risks in ...

Auditing is important in all organizations in the world since it enables the preparers of financial statements to provide a true and fair view of these documents. In addition, auditing enhances transparency in reporting. It also ensures that there is little or no manipulation of accounts in the organization (Arens 2). One of the important aspects in auditing is the audit risk model. This model explains the various risks that are associated with auditing. The model describes risk as the probability that there will be inappropriate use of auditor’s independence in the provision of opinions regarding financial statements.
...

1. Internal control is concerned only with enhancing the accuracy of the accounting records. Do you agree? Explain (http://www.smccd.edu/accounts/nurre/online/chtr7fa.htm)

I disagree. This is because internal control is also concerned with all the associated methods and procedures that a business implements to ensure that its assets are safeguarded and protected. The assets are guarded from theft by the employees, unauthorized utilization or even robbery. Enhancement of the accuracy is but one of the concerns dealt with by internal controls. Several principles are normally employed. From these principles, it is evident that enhancement of the accuracy of accounting records is not the ...

The chapter seeks to explore the entire subject of internal control of organizations. In doing this it arranges the subject in broad sub topics and provides a full illustrative description of the sub topics and the roles they play in the internal control of organizations especially in organizations that exist to make profits. Some of the key topics include:
(i) Selling of man hours
Most of accounting firms largely rely on their man power proficiency to offer their services. They hire professional accountants then look for contracts in firms both private and government institutions in which they carry out ...

Introduction

The cases of corporate fraud have increased recently where organizations have suffered huge financial losses as a result of this practice. To curb this problem, accounting and audit professional bodies have come up with comprehensive internal control requirements that need to be adopted by public organization to minimize cases of fraud and risks mismanagement (Sebastian, 2011). This paper analyses how these rules can be implemented in the organization.

Benefits of internal control programs

A good internal control program provides management of the organization with an assurance, which is independent on the effectiveness of governance. The program will ensure that there is effective evaluation of all ...

Internal controls are processes and procedures put in place by any organization to ensure that its objectives are met. It consists of all the measures undertaken by the business in protecting its resources against waste; enhancing efficiency, reliability and accuracy in financial reports; compliance with the laid down regulations; and evaluation of performance at all levels.

Protection against inventory theft and loss in the studied case is realized in several ways. First, there is proper documentation of all the transactions that are carried out. An official receipt is used in every transaction. The second and the most reliable method ...

Internal Controls

The recent journal article under consideration is titled, “Internal Control and Audit Program Effectiveness: Empirical Evidence from Jordan”, by Fawzi Al Sawalqa and Atala Qtish. The authors investigate the association between some elements such as control environment, risk assessment, and control activities of the modern internal control system used in organizations and the effectiveness and accuracy of audit procedures in Jordan. The authors use 43 usable questionnaires to get responses from professional auditors across Jordan. The study results indicate that the risk determination through internationally acceptable procedures does not necessarily mean an effective audit program (Al Sawalqa & Qtish 128). ...

1. Introduction
Undeniably, the heart of the corporate business world is accounting; however, auditing plays an indispensable role in accounting. It serves as the watchdog for all the stakeholders against any malpractices. In a nutshell, auditing serves to protect the interest of the stakeholders. However, the practice is not without some regulations and standards for quality and performance measurement and control. Auditing standards generally form the basis against which audits’ quality are not only performed but also judged. Almost all institution have adopted some forms of auditing standards and principles. A notable feature, however, is that such standards vary ...

Impact of PCAOB on auditing profession and fraud prevention

US accounting profession was blotted with the whirlwinds of corporate scandals like Enron and Worldcom during 2002. Investors lost billions of dollars as they were duped by these companies through accounting fabrication, which deceptively showed the shallow side of the companies to the whole investment community. Accordingly, the financial markets were suffering from the tapered investor confidence and it was important for the US government to restore that confidence by bringing in some strict legislations for the corporate community, and this lead to the passing of landmark legislation, Sarbanes-Oxley Act in 2002 and one of the most important aspect ...

Executive summary

In recent years, a lot emphasis has been put on the various types of corporate or white collar crime. This report analyses various methods of preventing white collar crimes. The report discusses various types of white collar crimes and how they are committed. It also illustrates some of the schemes often used to commit these crimes and their consequences. Finally, the report discusses steps that can be used to prevent white collar crimes. Mainly, the purpose of this research is to help employers understand the significance of the global effort to develop more durable businesses. It also illustrates ways of ...

Cardillo Travel Systems

The Cardillo Travel Systems case shows the way the management cooked up the books only to be caught later. This essay will attempt to answer some questions on this case.
False Representation to External Auditors: The executives at Cardillo Travel Systems were aware it needed to maintain a minimum of $3 million of stockholder’s equity threshold established by the court outstanding against the organization. (Ritterburg, 2012). This was the reason that shaped their intent to falsify the organization’s books to misrepresent facts before investors and creditors. The issue started with the accountants at Cardillo making an improper ...

Sarbanes Oxley Legislation

Sarbanes Oxley Legislation
The impact of Sarbanes Oxley Act in the financial markets of the United States of America is playing an important role in the progress of financial growth of the overall economy. The Sarbanes Oxley Act was introduced in the year 2002 and the main reason of the Sarbanes Oxley Act was to implement the corporate governance codes and ethical standards for the listed and the non listed companies all over the United States of America. The main reason behind the Sarbanes Oxley Act is that the government of the United States of America wants to ...

Disclosure related to accounting policies

The company under Note 2 of the financial statement has disclosed extensive information about the accounting policies being followed by it. Following the IFRS standards for the purpose of financial reporting, each accounting policy followed and implemented in the financial reporting process has been discussed, thus providing evidence for sufficiency of the disclosure of the accounting policies.

Relevance of Segmental Information

With companies going multinational there are different segments operating under the organizational framework. Hence, in order to ensure transparency related to the financial disclosures and to adhere to the regulations of the accounting standards, the companies do report segmental information so as ...

Executive summary

In recent years, a lot emphasis has been put on the various types of corporate or white collar crime. This report analyses various methods of preventing white collar crimes. The report discusses various types of white collar crimes and how they are committed. It also illustrates some of the schemes often used to commit these crimes and their consequences. Finally, the report discusses steps that can be used to prevent white collar crimes. Mainly, the purpose of this research is to help employers understand the significance of the global effort to develop more durable businesses. It also illustrates ways of ...

There are four American Institute of Certified Public Accountants Standards of reporting. First is that the auditor should say whether the financial statements are submitted in a manner conforming to accounting principles which are generally accepted. Second, the auditor of show in the auditor’s report circumstances which the principles have not been observed consistently currently in relation to the prior period. Third, the auditor should also state in the auditor’s report if they find out that informative disclosures are not very adequate (Tracy, 2009). Lastly, the auditor is expected to state an opinion in relation to financial statements ...

Management Report

Management Report

Internal Controls of the Wal-Mart

It is believed by the management of the Wal-Mart that it has accountability for setting up and sustaining of sufficient internal control over the financial reporting. The organization also intends to offer rational declaration concerning the consistency of financial reporting. The company is determined to organize financial reporting for the purpose of external reporting in compliance with those standards of accounting that are allowed in the United States (Wal-Mart, 2014).

The internal control of the company is effective because the company maintains disclosure controls and practices that are planned to offer rational declaration that data needed on ...

Internal control practices are the activities that enable a company to maintain an environment that is solely focused on accountability and ethics. These are systems that are put in place to safeguard the resources of the business. By putting in place these practices department benefits in the following ways; one of the benefits is that the internal controls provide checks and balances on the usage of resources. They also ensure that the areas of priority in an organization are identified as well as addressed. Another benefit of putting in place internal controls is that it allows the company to prevent ...

Internal control risk

The auditor should first obtain an understanding of the internal control system of Biltrite. This can be performed through walk-through tests, among other measures (Hightower, 2009). Understanding the system is essential in assessing the risk. Secondly, the auditor should make a preliminary evaluation of the internal control risk. The preliminary assessment of control risk is important since it influences the amount of compliance tests for the controls (Hightower, 2009). He should then conduct compliance tests through tests of control to assess the application of the internal controls. The auditor should then evaluate the reliability of the controls and document ...

Question 1

You have just been hired by a large organization to serve as a first line supervisor, but because you are in an influential department, you have the opportunity to meet the top managers at a company party and to dialogue with the CEO on his responsibilities. Knowing the responsibilities and types of decisions made by top management as we studied them in organization theory, what would you discuss the organization with the CEO?

Response:

Awareness is necessary with preparedness for the conversation or discussion with the CEO about the organization. Initially, I would discuss about the advantages of the organization as a tool to ...

Analysis under this model requires the examination of performance data over a specified accounting period (Marchetti, 2005). The paper analyses the performance of Competition Bikes and applies methods to pursue the same. This method relies on the final financial statements in the form of the balance sheet and the income statement. According to the returns of year 6 and 7, the revenue raised by 33% as contrasted by a year 7 and 8 net slump of 15%. This decline is a weakness. It is likely that during the second trading period; a recession had gripped the economy, thereby, reducing the returns. In addition ...

Nature of the entity

Abercrombie & Fitch Co. (“A&F”) refers to a Delaware company incorporated in 1996. Abercrombie & Fitch Co. A specialty retailer, it operates direct-to-consumer operations and stores that supplies sportswear apparel, accessories, and personal care products. These products are sold under Abercrombie & Fitch, Hollister brands, Gilly Hicks, and Abercrombie kids. The company maintains similar store formats and display of merchandise irrespective of the store location. As of January 2012, Abercrombie & Fitch Co. had 1045 stores, 946 of which are located in the United States and 99 other in international locations. Generally, the company operates a fifty-two week fiscal year ...

Part One

The Ford Industries Inc’s financial operations have been maintained in accordance with the company’s policies and accounting standards. The auditor’s report or assessment plays a significant role in establishing accurate financial position of the organization. The auditor assessments of the balance sheet help in identifying areas or sources of revenue in the organization. Therefore, the auditor is in a better position to recommend for the implementation of measures to increases the sales volumes and profitability of the organization. The auditor outlined the hierarchy of the company’s assets fair value in the balance sheet. The auditor ...

Introduction

Customer loyalty is crucial for every business. In case of a business losing customer loyalty, it faces several problems in the form of loss of market share and revenue. Repetitive sales from the consumer helps create better and improved market position. In case of retail industry, customer loyalty is extremely important and essential for long term success (Payne and Frow, 2005). In present times where in E commerce has taken over, a firm like TESCO would require ensuring customer loyalty in order to survive the competition. Moreover they are also expanding their businesses and customer loyalty can help them maintain their ...

Introduction

McDonald is one of the largest food retailers worldwide. McDonalds has a chain of restaurants which are all over the world. It is famous for its burgers and its fast foods. McDonalds has matured to a large corporation and continues to broaden as it sets up more of its restaurants in various countries. The following essay shows the annual report for McDonalds.

(SEC 26)

Consolidated Balance Sheet

(SEC 28)

Consolidated Statement of Cash Flows

(SEC 28) (McDonalds Corporation Annual Report 2013)

Audit Committee Report

Dear Fellow Shareholders:
The Audit Committee is composed of four Directors, each of whom meets the independence and other requirements of the New York Stock Exchange. As ...

XYZ Construction: Strategic Plan

In order for the XYZ construction company to execute its strategic, it needs capital. One way to getting access to capital is through offering the company to the public. A strategic plan is vital as the company prepares to proceed with its IPO. Within the strategic plan, the company will include information that offers guideline on the following components marketing: workforce and operational management, organizational structure, international operations, financial and accounting management, compliance and legal considerations, internal control and evaluation, information technology, leadership. This strategic plan is intended to help the company navigate through the entire process of initial ...

Bloomberg Businessweek Assignment #1

What is Behavox and how is its software in use?
Behavox is a startup company that is based in London. Adylov started the company in June 2014 (Finch & Robinson, 2017). It is acknowledged for creating a compliance surveillance software that provides the financial institutions with holistic employee surveillance solutions. According to Finch & Robinson (2017), this company promises to save money for the financial corporations, which have paid out hundred millions of dollars hiring back-office workforces, accountants, and lawyers to adhere to the rules around money laundering, capitalization, and risk. Behavox’s software catalogs computer logins, bathroom breaks, phone habits, ...

A visit to the local small supermarket which does not belong to the big chains that have the last invention equipment for preventing from fraud shows multiple possibilities of performing small crimes that, if they persist, can cause big damages to the owner.
There are five departments in the store: food (fresh and frozen) department; fruits and vegetables department and department for different house wares. The biggest is the food-staff department which occupies about three thirds of the place of totally 600 sq. m. At the exit gate there is a small kiosk for cooked food and sweet shop. ...

Abstract

The Helicopter Emergency Medical Service (HEMS) industry plays a crucial role in developing an industry approach to risk management in the area of air medical transport. The aviation sector has been known to manage risk at very high levels, but the current state of HEMS, given the many accidents, needs higher level risk assessment. An analysis of the risks involved in the HEMS industry would allow operators to maximize their opportunities and minimize probable threats. While some risks are uniform to most HEMS operators, there are some risks that are unique to an operator. For this paper, Air Methods ...

Recently, China has recorded a remarkable growth in its economy of nearly 10% per year. The bulk of this growth comes from the banking sector characterized by poor asset quality, low capitalization, and massive state intervention. For this reason, the government introduced sweeping changes to the financial sector to boost its stability. These changes included transforming the banking sector from a policy-driven, state-owned, non-performing system to a profit-driven, multi-ownership, competitive system. Although the sector has recorded marked improvements in its operation and efficiency, additional efforts is needed to deal with problems revolving around non-performing loans and shadow banking. The ...

Before we get into the analysis of financial statements of Amazon, it is important to note the audit procedures that were used in the whole process. The two audit testing procedures used were a substantive test and the test of details. In the substantive test, the auditor will have adequate access to information so that final decision is taken fairly. There can be cross validations. The second is the test of details where the validity of the accuracy and completeness of transactions is tested.

The potential risk factors and compliance issues with Generally Accepted Accounting Principles (GAAP)

There is a continuous rise in the cash flows of the Company because of expansion ...

The President,

United States of America.
Introduction
The concept of corporate ethics is widely accepted today. In order to stabilize the growth and development of the overall U.S economy, industries regardless of their nature or size must be instructed to follow certain ethical guidelines. In the current corporate environment, it is advisable for the U.S government to introduce three key changes to its corporate governance framework. First, there should be a single body or statutory regime to deal with corporate governance affairs in the country. Second, corporate ethics is essential to distinguish the roles of chairman and chief executive officer in ...

Introduction

According to Trevino & Nelson (2011, p. 35), fraud does not happen as a coincidence. To be specific, fraud in organizations is usually premeditated and has to happen in the right conditions and members of the organization in authority often set these conditions. As such, identifying the root causes of fraud, which is called fraud deterrence, should be one of the priorities of corporate governance. Since fraud has been a common menace in the history of organizational management, various strategies, government regulations, and acts have been developed to prevent the occurrence of fraud (Giroux, 2013, p. 32). These procedures cover ...

Personal Growth Assessment

Introduction
In various stages of my life, I have learned that growing up and embracing the challenges that come along is a prerequisite for anyone who desires a successful life. I have brought this mentality to succeed in the study of a degree in finance, which I will need to learn the skills needed to be a competitive financial and analyst in the future. Over the three years, I have been undertaking this course, I have learned a great deal of knowledge in financial analysis, accounting as well as risk assessment which I hope to apply in the near ...

Question one

The coca cola Enterprise was incorporated in Delaware 2010. Additionally, it is a publicly traded firm that is listed in New York Stock Exchange. It is a marketer, distributor, and producer of the nonalcoholic drinks of Coca-Cola Company via a licensed territory agreements in Belgium, great Britain, Monaco, and Sweden (2015 Annual Report:23). The coca cola Enterprise Inc. acts as the anchor bottler in West Europe, and North America. The products of Coca-Cola Enterprise Inc. are Diet Coke, Sprite, Fanta, and Coca-Cola among others. Its primary strategy is to be the bottling partner in Western Europe as well as ...

Abstract

The paper will explore the business environment and the fraud scandals that prompted the need for more comprehensive and stringent regulations on financial disclosure by all public business entities operating on U.S. soil. The primary financial issues that the Sarbanes-Oxley Act was meant to address will be addressed, with a specific focus on how to restore investor confidence by imposing more strict rules on companies in terms of recording investments, cash flows and periodic profit/loss statements .
Through an analysis of the basic provisions of the Act with regards to assigning personal responsibilities on officers of the company, as well ...

Introduction

Control refers to the management function that entails the entirety of processes that effectively inform the manager of up-to-date events in main areas of operations in the organization, as well as facilitate needed changes to be carried out in the organization (Armesh, Salarzehi, & Kord 2010). Through the control process, projected results are achieved through accurate measurement and positive courses of action. Managers are an indispensable part of the control process in the organization; they check and assess the success of relations between stakeholders, such as employees and customers and organization resources and outcomes - inputs and outputs (Siska 2015). ...

Option 1

Part 1
The company selected for the assignment is Teledyne Technologies. Chart below shows the information regarding the company:
The audit report of Teledyne Technologies Inc. for the year ended January 3, 2016 carried an unqualified opinion. The report stated that the consolidated statement of income, comprehensive income, cash flows, and stockholder’s equity for the year then ended presented fairly, in all material respects, the financial position of the company and were in conformity with Generally Accepted Accounting Principles of United States of America.
The company’s internal control for the year ended January 3, 2016 were also ...

Detailed Controlled Narratives: Attendance Camera:

Like it is the case with a majority of business establishments, Crystal Jewellery Company has invested in high definition attendance cameras. These are used as a measure to keep an eye on both the employees of the company and the outsiders who come to do any form of business with the firm. The rationale behind the usage of attendance cameras is maintaining the required level of internal control in the organization. The cameras allow the company’s security personnel to keep an eye on strategic locations within the premises, especially the entrances into the building. Security is the overall ...

Corporate governance refers to a system in which companies in a given region are directed and controlled. It involves a set of relationships existing between the board, management, shareholders and any other stakeholders of the company. Corporate governance as well is instrumental in the provision of a structure of setting the objectives of a company, the means of attaining the set objectives and monitoring performance of the company. Corporate governance lies on four pillars which include accountability, transparency, fairness and responsibility (Sharar, 8). A corporate governance framework is necessary to safeguard the interest of the various stakeholders in any ...

Business case scenario analysis

Abstract
The successful enterprise Three Guys Garage is facing challenges for expansion, succession planning, and the use of innovation in their services. Growing the brand can result to the loss of operational and service quality control while not doing so will limit TGG’s sustainability in the future. Growing the brand also provides enormous opportunities for their apparent successors to gain experience in running a large enterprise. Franchising the TGG brand provides at least three advantages in the expansion and planning fronts: easy access to better managerial talents; easy access to expansion capital; and significantly minimized risk exposure. However, ...

The role of the auditor including legal and professional requirements, its importance, benefits and limitations

The Role of an Auditor
An auditor is a professional who has an authority to independently examine, verify and confirm the accuracy as well as fairness of financial records of a business entity. The role of auditors can be classified as internal and external auditing activity. Internal auditors are those accounting experts who examine the accuracy and reliability of financial statements of their own employer. In contrast, external auditors are independent auditing/accounting entities who pass their professional judgment and form an opinion concerning the fairness of financial statements .
Under the Companies Act, the role of an auditor is to ...

Question One

Phil shows that he was not fully prepared by arriving late. Although he was familiar with how long it would take to get to the organization, he did not adjust his time so as to arrive on time. Consequently, he missed several steps he should have undertaken in order to improve the quality of his audit. First, he did not have a comprehensive entrance meeting with the client so he did not have the opportunity to meet key personnel that will have significant involvement in the process considering the main contact person would not be available until the end ...

Short Answers

Short Answers
The companies all over the world are using the IT to enhance the efficiency of their business. Due to this dependency, the numbers of IT frauds are increasing. The access of the restricted records and the database of the business to the irrelevant employee create a risk for the business. For example, an unauthorized user or employee can increase the pay scale of the individuals in the system of the business. Another important reason of IT frauds is that the proper supervision or the authorization measures are not taken by the organization. For example, the purchasing department ...

AMAZON INTERNATIONAL

Washington DC 85965Az,
Amazon Company Office of the Auditor General
February 3rd, 2016
MEMORANDUM TO: CHIEF FINANCIAL OFFICER (CFO)
The main intention of this memorandum is to disseminate crucial information, promote clarification of work sampling, and risk issues as mentioned above. It is the rightful duty of the management to maintain books of accounts and financial statements to the maximum efficiency possible. There have been rare alarms regarding the integrity of the organization in the recent audit report of the Company, which was based on observations from a few months back. The examination of the financial statements was for ...

Introduction:

Corporate governance is a practice that defines all the mechanisms, procedures, processes and relations by which firms are controlled and directed. Governance structures and principles highlight the allocation of responsibilities and rights among the different parties in the firm such as: boards of directors, managers, shareholders, auditors, creditors, regulators, and other stakeholders. The governance mechanisms encompass the monitoring of actions, policies, and corporate decisions, their subsidiaries, and the stakeholders.
The Citigroup mortgage crisis sets an example in substantiating the outcomes of poor corporate governance, where the top management fails in implementing oversight procedures that would have averted corruption and ...

PART A (1000)
In the online trading we have chosen three different contracts copper and natural gas and corn giving us a well balanced portfolio. Below is a clear explanation on each commodity traded in the Plus500 platform.

COPPER

Copper is considered as one of the oldest metal. This metal has a huge future predicted price as emerging markets opens up to increase their consumption levels. To date, the greatest consumers of this metal are the developed nations. The recent demand hike witnessed two years ago was a result of demand opening up in China and India. The greatest supplies ...

Wal-Mart is a US based multinational retail company headquartered in Arkansas, US and listed in New York Stock Exchange. The company operates a chain of discount stores and super markets. The operations of the company are divided into three reportable segments namely: Wal-Mart US, Wal-Mart International and Sam’s Club.
Ernst & Young LLP conducted the audit of Wal-Mart stores Inc. and the auditors issued the audit report to the shareholders and board of directors of the company.
The audit report of Wal-Mart for the year ended January 31st, 2015 carried an unqualified opinion. The report stated that the financial ...

Computation of Variable and Fixed Cost Elements

For performing the managerial accounting analysis to compute the variable and fixed cost elements by using a high-low method, the following table is considered which reveals that the actual quantity of units produced and the total cost incurred to produce them:
Variable Cost per Unit = Change in the total cost of the two production activities

Change in the total production activity

Variable Cost per Unit = Total Cost Higher Activity - Total Cost Lower Activity

Units Produced Higher Activity - Units Produced Lower Activity

= ($14,940 - $11,200) / (10,000 - 7,100) = $3,740 / 2,900
Variable Cost per Unit = $1.289 per unit

Total Fixed Cost is calculated as follows:

Total Cost Higher Activity – (Variable cost per ...

This is a company that operates in the food industry. It has businesses on fast foods and burgers. The company runs a number of restaurants in different countries around the world. McDonald has spread so fast due to the chain of co-ordinated efforts of its managers and directors who are based in the countries and regions the company operates. The company invests relatively enough in advertisement and this in a way fosters its rapid growth. The ever available market for food stuff brought the idea of participating in the food industry. It fetches high profits for since the cash inflows do not ...

Paper Outline

Introduction 3
How to Follow/Maintain Ethical Standards in Accounting 3
How to deal with Unethical Situation in accounting 4
Conclusion 5

References 6

Introduction
Ethical standards in accounting entails rules and procedures that professional accountant must follow whenever preparing financials statements in order to disclose the true states of affaires as represented on the ground. Incase such financial statement are audited by an independent body, the body should come up with the same findings arrived by a professional accountant. The professional accounting standard board requires all accountants to observe code of ethics when preparing financial statement to avoid ...

< Management and Technology>

Management and Technology

Technology and any business at present time in the world go hand in hand. The absence of technology based solution in any kind of money making business, especially one in which management of store and its delivery is involved, will ensure lack of speed in the development of that particular business. The report consists of two major parts, the first one containing the solved quires about managing controls of a company and the second part deals with the modern tools and methods used ...

- . The Institute of Internal Auditors""? (IIA""?s) Code of Ethics and International Standards for the Professional Practice of Internal Auditing (Standards) [Chapter 2]
One of the fundamental roles of internal auditing is to ensure that ethical behavior is promoted among the internal auditors. The ethics outline the principles and expectations that an internal auditor should possess while conducting internal auditing to improve the effectiveness of risk management. Ethics explain the principles that an internal auditor should follow while carrying out auditing. It also outlines the qualities that an internal auditor should possess. The standards put in ...