Essays on Gallegos

Planning the audit

This is usually the first step in any audit. It is important to have a plan for an audit so as to ensure that the audit will be effective. During the planning stage, the auditor collects information about the organization where they will perform the audit. Such information is usually obtained after the auditor has been contracted and they have a meeting with the organization. The meeting with the organization is very important for the auditor. The meeting provides an opportunity for the organization to communicate to the auditor what they exactly need from the audit. The organization will ...

INTERNAL AUDIT AND FINANCIAL CONTROLS

Internal Audit and Financial Controls It is the ethical and professional responsibility of the auditing firm to maintain the high level of assurance and maintain an acceptable level of objectivity and independence as per the applicable codes of the auditing and assurance. Therefore, during or before performing audits, internal and external, the auditors must avoid any threat towards their independence and objectivity. However, in most of the cases, the auditors reduce the level of threats to assure that their reviews are objective and free from bias. ("Internal Audit's Relationship With External Audit") When the audit firm is providing the ...

Technical Evaluation Process for Evaluating Acquisition Alternatives

The term acquisition refers to the stages, which occur from buying, applying, introducing, adopting, localizing, adapting and developing through diffusion. The issue of acquisition is multifaceted for many reasons, which include availability of large IT applicant’s varieties, new technology rapid change and several business involvement entities into the organization. The processes set for the building, buying decision or lease must be identical for every business opportunity for instance that arises (Gallegos, 2004, p.34). The processes strategically determine the potential savings and value of the proposed project. They also determine the factors such as transformation of business versus ...