The Importance Of Internal Controls

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    Business

    Decentralisation Hierarchical structure Organisation employees are ranked at various levels within the organisation Each level is one above the other At each stage in the chain, one person has a number of workers directly under them, within their span of control 1 Compiled by Mr. Vinay @ OCL Tall hierarchical organisation has many levels Flat hierarchical organisation only has few levels Functional - people according to the function they perform in their professional life or according to the functions

    Words: 1319 - Pages: 6

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    Quality Management

    quality tools and their importance to organizations. The authors conveyed that W. Edwards Deming, along with many other successful individuals who focused on quality, created an immense number of tools to discover the causes of quality issues. Fortunately, the tools are still being implemented by organizations today. The quality methods represent graphical techniques and consist of Pareto Charts, Process Flowcharts, Checksheets, Histograms, Scatter Diagrams, Statistical Process Control Charts, and Cause-and-Effect

    Words: 543 - Pages: 3

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    The Balanced Scorecard

    translating an organization’s vision into a set of performance indicators distributed among four perspectives: Financial, Customer, Internal Business Processes, and Learning and Growth. BSC perspectives: 1. Financial perspective The importance of financial consideration is paramount in most situations but not in all situations. No one can deny the importance of financial facts and figures but these figures are not the only parameters. We would have to look on other aspects of success.

    Words: 2804 - Pages: 12

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    Section 404 of the Sarbanes-Oxley Act - Curse or Blessing

    the Act are titles 302, 401, 404, 409, 802 and 906. The main premise of this paper is to investigate one of the most challenging aspects of SOX’s regulations - a company’s responsibility for implementing effective internal control – as described in Section 404. Role of the Internal Control in the Financial Reporting and Section 404 The requirements of the

    Words: 2712 - Pages: 11

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    Motivation and the Brain

    motive to abstain from using drugs. Extrinsic and intrinsic motivation, environmental forces, and heredity involved dynamics. Internal motivation is generally considered to be a longstanding behavior modification, although the results of successful external motivation can be brief. A proposed challenge is suggested by the motivational assessment. Changing a person’s internal beliefs and point of view, along with their inducements and external forces are a way to transform his or her behavior. While

    Words: 1059 - Pages: 5

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    Ethics Reflection

    positions also realize the importance of social responsibility. Strategic managers must recognize the importance of the stakeholders, which include stockholders and employees, while also considering the importance of outsiders such as suppliers, local communities, government roles, and the public (Pearce & Robinson, 2011). Because incorporating social responsibilities into the company’s mission is not an easy task, any organization that incorporates the interests of the internal and external stakeholders

    Words: 974 - Pages: 4

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    Reality Therapy

    unhappy person that has the choice of what therapy best suits their needs. Background of Glasser William Glasser was born 1925 and raised in Cleveland Ohio. Little has been written about his childhood and maybe this is a reflection of the importance he puts on childhood experiences but he does

    Words: 1733 - Pages: 7

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    Stoicism

    which has proven itself the most attainable and practicable ideology for the general citizen, baring ethics as its fruit. Stoics explain the world through physics, logic, and ethics. They draw attention to ethics and develop it as their primary importance of reason, while expanding on logic and physics as substance to strut their ethical resolves and principles. Originating from Greece, Stoicism evolved during the course of multiple periods, its inconsistencies being refined in the Roman hands and

    Words: 1929 - Pages: 8

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    Nazir Karigar Case: Cryptometrics Canada Inc.

    This case was notable because along with being one of the only major prosecutions in Canada, it was the first time a company voluntarily disclosed corrupt foreign practices to law enforcement in the country. Because the company self-reported their violations, they received a more lenient penalty than they would have if they concealed the bribes. The client should have an understanding of this case and how it has shaped recent Canadian legislation. Cryptometrics Canada Inc. Nazir Karigar, an intermediary

    Words: 902 - Pages: 4

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    Financial Statment

    Goodwill 13 • Account payables 14 • Capital Assets 15 Materiality 16 Evaluation of Internal Auditor work 17 Additional procedures performed at future inventory count 18 • Procedures performed during inventory count 19 • Procedures followed after inventory count 20 Audit program for Property Plant and Equipment 22 ROMM 22 Approaches to testing 22 Audit Test 23 Audit Documentation and Audit File 25 • Importance of audit documentation 25 • Parts of Audit file require Documentation 26 Auditor

    Words: 4380 - Pages: 18

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