...1: Plan an external corporate communications audit An external corporate communication audit requires for corporate communication for developing strategy. Knowledge in communication is required for executives to develop proper communication strategy and determine main issue for developing functions for major public issues. The proper strategy ensures inner messages for communication that perceive intended audience. For developing a corporate communication strategy, organization is not necessary and required to develop process. The productive strategy is affected by the organization as a whole performance evaluation to determine strategic goals. It is important for developing internal and external environment....
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...The Human Resource Audit as an Improvement Tool Regardless of the type of company or the size of your HR department, the HR Audit is a simple, yet comprehensive tool to analyze and improve your effectiveness as a function. The audit is made up of four main steps: 1) 2) 3) 4) Define desired HR practices for your organization Assess current practices against the criterion that you have established Analyze the results Establish improvement goals and take action This simple four-step approach can be repeated as the annual planning and goal setting process occurs within your company. Progress can be measured against goals and a continuous improvement cycle naturally unfolds. Purpose(s) of an Audit The audit can serve any of the following purposes: · · · · · · To clarify desired practices of HR work and roles within the organization (HR Department, Line Managers). To establish a baseline for future improvement. To evaluate current effectiveness. To standardize practices across multiple sites within a division or company. To assess current knowledge and skills required of HR practitioners. To improve performance levels to key customers within the organization. The Audit Process Step One--Defining Audit Statements Definition of desired HR practices can occur through in a variety of ways. A good starting point is to take some time and reflect on the legal requirements and programs that the department must administer. Simply listing them is a good first step. Next, consider your areas...
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...Current Business Practices Audit Manuel Oliver, Christopher Nieto Veronica Martinez, Angelica Rubio Shanna Guillen MGT/360 June 19 2014 Fernando Bernal Abstract Vice president of operations in Riordan Manufacturing, Mark Netizal, contracted Team B a sustainability company to develop and implement a sustainability plan. He decided to assess the company’s current business practices and allow Team B full access to perform their sustainability audit. Team B ventured and completed the audit finding some new practices that can help Riordan Manufacturing and also identified that Riordan Manufacturing was already leading the industry with some current practices. Current Business Practices Audit Riordan Manufacturing is a manufacturing company that produces plastic products, plastic injection moldings, medical products and fan blades and fan housing products. Riordan has three locations inside the United States and a manufacturing plant in the Republic of China. The company by the name Team B has performed a sustainability plan for Riordan Manufacturing in which will provided access to their company’s current business practices. Riordan Manufacturing’s vice president of operations contracted Team B to develop efficient sustainable practices to help promote more environmentally friendly company that can lead its industry to new levels of sustainability. Team B’s audit inspected the following stages of Riordan Manufacturing’s: California’s receiving...
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...1. Introduction A human resources management audit can assess how current human resources and employment management arrangements contribute to the purpose and aims of the organisation and how these arrangements support stability and manage the obligations and expectations. It is essentially a comparison of ‘‘what is’’, and ‘‘what should be’’. This presents two fundamental challenges – measuring ‘‘what is’’, and defining ‘‘what should be’’. We argue that traditional models are too insular to achieve this, and most processes too limited in their scope. We therefore propose a new model and process to human resources (HR) audit. 1.1 Traditional approaches to HR audit An HR audit can be described as ‘‘a systematic, formal evaluation of all human resource policies and programmes in an organization’’ (Hercus and Oades, 1983), which is an internally focused review of the HR activity. Rothwell and Kazanas (1994) take a wider view, suggesting that the audit concerns itself with the extent to which the HR activity supports, and is consistent with, the purpose of the organisation it serves – a more external approach. Yet our experience, the many documented models, and the approaches offered by those who promote HR audit, do not bear this out.Traditionally, the approach has been internally focused – assessing the compliance of the HR function to regulatory requirements, efficiency of processes and staff, the effectiveness of processes when measured against ratios eg staff...
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...PROJECT PROPOSAL ON EFFECT OF MARKETING AUDIT ON ORGANISATIONAL PERFORMANCE IN SELECTED NIGERIAN FAST FOOD (A Case Study of MR BIGGS) BY OGUNRINDE FATIMO OLAIDE 090822049 1.1 Background to the Study In recent years, increasing pressure to reduce costs has forced many companies to radically reengineer the way they do business. This pressure is also leading marketing executives to reconsider the goals, structure, and effectiveness of their marketing arms. As a comprehensive review of a company’s market environment, the marketing audit identifies any inadequacies in overall marketing structures. It also identifies operational strengths and weaknesses and recommends the necessary changes to the company’s marketing strategies. If the marketing audits are done correctly, they will provide management with a useful and analytical tool for evaluating, measuring, motivating and revising management actions (Mylonakis, 2003). The growing complexity of the current market environment necessitates a more systematic scrutiny and evaluation process of the organisational preparedness to deal with the dynamic market. The existing information gathering and processing methods, generally, lack a comprehensive and integrated structure that incorporates the entire marketing function as well as providing strategic recommendations for action. The marketing audit, characterised as a systematic, comprehensive, objective, and independent approach, can assist the...
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...HR Audit “The things that get measured gets managed” www.humanikaconsulting.com Agenda 1. Introduction 14. General Auditing Method 2. Challenges For H.R. 15. Methods Of Hr Audit Department Eight Challenges 16. Research Approaches To Audits 3. Meaning & Purpose Of Hr 17. Hrm Auditing Process Audit 4. Purposes Of Hrm Auditing 5. Objectives Of Hr Audit 6. Benefits Of HR Audit 7. Frequency Of HR Audit 8. The Principles Of Effective Hrm Auditing 9. Types Of HR Audits 10. The Scope Of Human Resource Audits 11. Hrm Audit Measures 12. HR Standards 13. Task Auditor INTRODUCTION • “How does a firm know if its human resource practices have an impact on business results? • “..most professional service firms and organizations complete an extensive audit of their financial statements on an annual basis, but the programmes involving “people”, such as recruiting, training or pay-for-performance are seldom given the same scrutiny.” • “..the starting point for enterprises wishing to manage their human capital successfully and seeking a labour competitive advantage is activities of the HR department.” CHALLENGES FOR H.R. DEPARTMENT EIGHT CHALLENGES IDENTIFIED BY DAVE ULRICH (1997) Globalization The H.R department will need to create models and processes for achieving global activeness, effectiveness and competitiveness. Managing the Value Chain for Business Competitiveness Innovation Faster Decision Making Price or Value Advantage Effective linking with Suppliers ...
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...AUDIT CRUNCH: REFORMING AUDITING 3 Fundamental Flaws in Current Audit Practice 1st point From this journal, it mainly focuses on the debating of three issues which are deeply embedded in the current auditing practices. Firstly, auditing model is one of the fundamental issues that exist in the auditing practices. It makes auditors’ financially dependent upon companies and persuades them to prioritize their own economic interest at the expense of other parties which may have an interest in audits. This is because auditors are remunerated by the client company rather than by an independent body and resulting the auditors are not able to retain sufficient distance in delivering independent audit. Auditing firms used their control of the auditing markets to colonies adjacent a market to sell consultancy services to audit clients where it causes the auditing model in practice is further complicated. With this, it will increase the auditor fee dependency upon companies and hence cause impairment in the independence of an auditor. The current auditing model is flawed and cannot be repair as auditors are generally banned from selling consultancy services to audit clients. Potential Solution The legislators should be allowed to appoint auditors of major companies. Auditors will not fear of losing the job as they don’t have to socialize their client. Although the fees could come from client but legislator or government are the one selecting auditors for work. This is to segregate...
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...access to global markets. Inherent Risks 1. Inherent Risk - Going concern Elders Limited, in its 2012 financial statements highlights, the company’s intentions to focus on its core business, rural business and sell off other entities including Futuris Automotive. Elders Limited financial statements have been prepared with the assumption that the company will continue as a going concern. The company’s reliance on acquiring financing and the achievement of planned asset sales results in material uncertainty acknowledged by directors (White, 2012). Elders plan to proceed as a going concern and meet their objectives as and when they fall due (Sprague, 2013). The majority of Elders limited business operations are at risk of economic and marketing fluctuations, particularly due to the recent global recession (Elders Financial Statement, 2013). The auditing focus will be to consider whether an entity possess the ability to proceed with operations for the foreseeable future, given the circumstances of the business and the environment in which it operates (SAS 130, Para 8). Potential misstatements Management may be compelled not disclose all relevant facts pertaining to the entity. This insufficient disclosure is a material misstatement on the financial statements (ASA 315). Audit Evidence: The auditor should check sufficiency and correctness of disclosures of financial indicators. The auditor should carry out an extensive review level to which losses are caused...
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...Course Schedule Course Modules Review and Practice Exam Preparation Module 1: Conceptual issues in assurance Overview This module builds on the fundamental concepts of auditing and other assurance services introduced in your prerequisite auditing course. It begins with an overview of the key drivers in the demand for audits, and then surveys current challenges and issues such as the audit and regulatory environment and the expectation gap. You will also study issues related to the economics of auditing and their impact on auditor motivation and standard-setting; in the process, you will consider different perspectives on protecting the public interest and the public accountant’s role in helping to advance the profession. The various topics integrate information sources related to research in the field and readings from the Ethics Readings Handbook (ERH) , drawing on concepts from your prerequisite accounting theory course. In AU2 , you will study a wide variety of technical, practical, and theoretical material. This module lays the foundation for exploring some of the more difficult areas of professional judgment you will encounter as you progress through the course. When faced with issues that challenge your professional judgment, you are encouraged to think back to the concepts studied in this module to help frame your decision making. Please be sure that you have purchased the CPA Canada Handbook, CGA Student Edition mentioned in the course introduction, as it is required...
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... ACCT: 407-01 3/31/2010 The general definition of an audit is an evaluation of a person, organization, system, process, enterprise, project or product. Audits are performed to ascertain the validity[->0] and reliability[->1] of information; also to provide an assessment of a system's internal control[->2]. The goal of an audit is to express an opinion on the person / organization/system (etc) in question, under evaluation based on work done on a test basis. Due to practical constraints, an audit seeks to provide only reasonable assurance that the statements are free from material error. Hence, statistical sampling is often adopted in audits. In the case of financial audits[->3], a set of financial statements are said to be true and fair when they are free of material misstatements - a concept influenced by both quantitative and qualitative factors. Audit is a vital part of accounting[->4]. Traditionally, audits were mainly associated with gaining information about financial systems and the financial records of a company or a business (see financial audit[->5]). However, recent auditing has begun to include other information about the system, such as information about security risks, information systems performance (beyond financial systems), and environmental performance. As a result, there are now professions conducting security audits, IS audits, and environmental audits[->6]. In financial accounting[->7], an audit is an independent assessment of the fairness by which a...
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...Course Schedule Course Modules Review and Practice Exam Preparation Resources Module 1: Conceptual issues in assurance Overview This module builds on the fundamental concepts of auditing and other assurance services introduced in your prerequisite auditing course. It begins with an overview of the key drivers in the demand for audits, and then surveys current challenges and issues such as the audit and regulatory environment and the expectation gap. You will also study issues related to the economics of auditing and their impact on auditor motivation and standard-setting; in the process, you will consider different perspectives on protecting the public interest and the public accountant’s role in helping to advance the profession. The various topics integrate information sources related to research in the field and readings from the Ethics Readings Handbook (ERH) , drawing on concepts from your prerequisite accounting theory course. In AU2 , you will study a wide variety of technical, practical, and theoretical material. This module lays the foundation for exploring some of the more difficult areas of professional judgment you will encounter as you progress through the course. When faced with issues that challenge your professional judgment, you are encouraged to think back to the concepts studied in this module to help frame your decision making. Please be sure that you have purchased the CPA Canada Handbook, CGA Student Edition mentioned in the course introduction...
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...Project Title: HR Audit INDEX SR NO. | TOPIC | PAGE NO. | 1 | Acknowledgement | 3 | 2 | Executive Summary | 4 | 3 | Introduction to HR Audit | 6 | 4 | Qualitative & Quantitative Indicators for HR Audit | 8 | 5 | Types of Audit | 13 | 6 | HR Audit Process | 17 | 7 | Human Resource Management v/s Performance | 21 | 8 | Approaches to Human Resources Audit | 25 | 9 | HR Audit Tools | 30 | 10 | Checklist for HR Audit | 33 | 11 | Audit Report | 35 | 12 | Audit of HR Results | 36 | 13 | HR Audit in India | 37 | 14 | Conclusion | 40 | 15 | Bibliography | 49 | s ACKNOWLEDGEMENT “For any successful work, it owes its thanks to many” Presentation of this project gives us the feeling of fulfillment. It has taken an exhaustive effort in preparing this project. It took several hours, several days, and several meetings amongst us to make this project work up to its expectations. The faculty members of our college have provided us with great source of inspiration and have provided great help in pursuing this project. Many individuals have contributed in preparation of his project. We take this opportunity to thank few people without whom this project would not have been possible. We would like to thank our faculties for their kind support. Our sincere thanks go to our project guide Prof.Anjali Saida, who helped us through many aspects and whose friendly guidance on many issues helped us for the betterment of our project. Without her support...
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...exams, term papers, and other projects required by the faculty mentor. The known submission of another person’s work represented as that of the Learner’s without properly citing the source of the work will be considered plagiarism and will result in an unsatisfactory grade for the work submitted or for the entire course, and may result in academic dismissal. | | MGT-7019 | Jo Ann Davis | | | Ethics in Business | Assignment 7 – Case Study: A Primer on Sarbanes-Oxley | | | ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Faculty Use Only ------------------------------------------------- <Faculty comments here> ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- <Faculty Name> <Grade Earned> <Writing Score> <Date Graded> Case Study: A Primer on Sarbanes-Oxley Tanya M. Johnson MGT 7019: Ethics in Business Northcentral University February 3, 2013 Abstract In the wake of...
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...http://pcaobus.org/Standards/Auditing/Pages/default.aspx 1. After the report release date – can the auditor delete or discard or add information to the audit work papers? Information cannot be deleted or discarded from the audit work papers after the report release date, but information can be added to the work papers after the release date. 2. Certain audit matters may be documented in a central repository for the public accounting firm or in the particular office participating in the engagement. What matters may be documented in this manner and does the specific engagement’s audit documentation need to include a reference to such matters? Matters such as auditor independence, staff training and proficiency, and client acceptance and retention may be documented in a central repository. Also, yes, the specific engagement’s audit documentation needs to include a reference to the central repository if one is utilized. 3. May an auditor conduct an engagement to report on whether a previously reported material weakness continues to exist if and, if so, what are the related requirements that the auditor must comply with? An auditor may report on whether a previously reported material weakness continues to exist at a company only if all of the following conditions are met: • Management accepts responsibility for the effectiveness of internal control over financial reporting; • Management evaluates the...
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...BUSINESS RISK AND THE AUDIT PROCESS. Should the risk of litigation, sanctions or an impaired reputation affect the conduct of an audit? by Craig A. Brumfield, Robert K. Elliott and Peter D. Jacobson Business risk is the probability that an auditor will suffer a loss or injury to his professional practice. It differs from audit risk, which is the probability that an auditor will issue an unqualified opinion on materially misstated financial statements. For example, an auditor may be sued (business risk) whether or not the audit and the financial statements comply with professional standards (audit risk). Audit risk can infiuence business risk because an inappropriate opinion can be a significant factor in the events that lead to loss or injury to an auditor's professional practice. Conversely, business risk may, within limits, influence the auditor's assessment of the acceptable level of audit risk. The concept of audit risk is directly related to the third standard of fieldwork, which requires the auditor to gather evidential matter sufficient to support the opinion. It follows from the concept of sufficiency that a minimum level of audit work, or evidence gathering, is required on every audit conducted in accordance with generally accepted auditing standards. Although this is obvious, it must be accepted that the concept of a required minimum level of audit work is basically undefined and the concept of audit risk unmeasurable with current techniques. The auditor uses his...
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