The accounting system should include strong internal controls to make sure financial statements and data are accurate and valid. Strong internal controls can prevent a company from providing false data to make their company look more profitable and steal funds from the investors and stockholders. There are several internal control weaknesses that existed at MCI that contributed to the commission of the fraud acts. One major internal control weakness was that Pavlo was able to manipulate the accounts
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Case Study - Machine Controls for portable decontamination & sterilization system Description: Electrical Control Panel, Control System Design & Engineering and Machine Controls for a portable room and vehicle sterilization system. Industry: * Medical equipment * Biohazard remediation * Healthcare facilities * Fire & Emergency medical services * Law enforcement & corrections * Public transportation * Food processing plants * Hotels * Gym and
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perimeter and external layer. Controls found within this layer include windows, protective lighting, intrusion detection systems, signs, barriers, locks, access control, and surveillance, all of which protect organizational assets (ASIS International, 2008). The value of the assets protected will determine the internal security protection required. An organization’s security plan will primarily address their perimeter security, external security, and access control. During this process internal
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Recommendation An internal auditor can be beneficial to help alleviate the challenges being experienced in your company with internal controls and accounting functions. Internal auditing can provide added value and improve your company’s operations (The Institute of Internal Auditors, 2012). By hiring an internal auditor your company can maintain effective internal controls and reduce business risks (Lehman Brown, 2009). Benefits Your company can enjoy the benefits of having an in house auditor. An
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ACCEPTABLE USE POLICY (AUP), v 1.4, 6 January 2012 Reference: AR 25-2 (Information Assurance). A well-protected DoD/Army network enables organizations to easily handle the increasing dependence on the Internet. For a DoD/Army organization to be successful, it needs to integrate information that is secure from all aspects of the organization. The purpose of this policy is to outline the acceptable use of computer equipment within a DoD/Army organization. These rules are in place to protect the employee
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a)The purpose and use of the different accounting records which can be used in MonteHodge: Accounting is a crucial discipline for keeping track of quantifiable factors for a business or individual. Accountants are primarily employed to track the flow of money through an organization. In some cases, they are charged with ensuring legal compliance. In others, they are more specialized in optimizing that cash flow. Accountants also organize and aggregate financial information and produce reports
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the internal controls of firms and enterprises, executives are constantly keeping a close look on the accuracy and effectiveness of these controls along with seeking ways to better them. According to COSO (2004) the implementation of internal controls helps guide companies in reaching towards their profitability goals, the accomplishment of their mission statement, and helps minimize any unexpected events that may occur. This analysis will: (1) describe the importance of internal control programs, (2)
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SOX effect on DCAA Christy Taylor AC 503 July 11, 2011 SOX effect on DCAA The public looks to financial documents for evidence on the success of companies and a basis for investing decisions. Investors and banks rely upon these documents to provide accurate information for the decision-making process. The accountants and auditors that create and verify the accuracy of the information within these documents hold the trust of those who rely on accurate financial information. Once the trust
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Smackey Dog Food Company Smackey Dog Foods, Inc is a privately held corporation specializing in natural dog food, both regular and gourmet brands. Smackey Dog is not publicly traded which is evident because they are not following many of the standards that are required through Sarbanes Oxley. Since this is a privately run corporation, they are not required to adhere to the SEC regulations, but adherence to these regulations would actually help Smackey Dog to be more efficiently run and would
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Ph What else can be done to inform women about the risks of abortion? It is easy to inform women who live in a advanced first world country about the risks of abortion. They have easy access to technology and they are more likely to have good education. To teach women of a third world country about the risks will be a lot harder. The is a chance of a language barrier. They might mot speak englisg very well. Also it is hard for access to contraceptives. Abortions are done illegaly and in very
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