...Internal auditing Case study QUESTION 1 SWOT analysis (alternatively SWOT matrix) is a structured planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or in a business venture. Strengths There no strengths of this university | Weakness * One of the weaknesses of university was the inadequate segregation duty. Mr. Lockwood had a wide span of control and was unable breach certain policies .for example purchasing and university policies. * Another weakness is that the internal auditing department was not independent therefore it could not detect error or abasement of the university system. * The president did not perform is work effectively manner because he did not check in on vice president to ensure he was doing it effectively after giving so responsibility. * Promoting unethical conducts. For example lying to board about insurance companies. | Opportunities * One major opportunity is that they could reduce the amount of years they would be operating in deficits by raising the school fee. | Threats * One major threats is that university would operate at loss for the next biennium * Raising the school is also a threat because it might be higher that there competitors which force the customer to chose there competitors if they can offered it . | Question 2 How important is internal control in a university environment? Internal controls are the procedures that are put in place to help achieve the objectives...
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