Employment Dynamics
Employment Dynamics
Sayyed Muhammad Ahmed Dabir
BU7025 - Employment Dynamics
University Of Chester
Employment Dynamics
Internal control mechanisms have a more important role to play within the modern workplace than external control mechanisms. In fact, internal controls play a very important role in any organization’s business and financial policies and processes. Internal controls comprises all the steps considered by the management of organization in order to (Pfister, 2009); (i) preserving its valuable resources against ravage, deception, and inadequacy; (ii) making sure dependability and accuracy in accounting; (iii) securing conformity with the organizational policies; and (iv) appraising the performance level in every unit of the organization. It is a general fact that the implementation of internal control mechanisms is good for the organisations.
According to Blyton & Turnbull (1992), the activities of internal control can be divided into five major components: control environment, risk assessment, control activities, information and communication, and supervision and assessment. In the past, internal control mechanisms were usually employed to test, asses, and confirm accounting and financial statements, and to assure financial reporting accuracy. After arrival of the Internet and other latest technologies, flexible processes of manufacturing, and concepts, like quality control and total quality management (TQM); the environment of business has become a more competitive, complex pitch that has needed to redesign the whole process of business and develop new models of business (Edwards, 1997). From these re-establishing, systems of internal control are also employed to test, assess, and confirm all facets of operations and administration of a firm to make sure that organisational goals and decisions are being accomplished and set managerial, functioning, and financial policies and processes are being complied (Pfister, 2009). The
Sayyed Muhammad Ahmed Dabir
BU7025 - Employment Dynamics
University Of Chester
Employment Dynamics
Internal control mechanisms have a more important role to play within the modern workplace than external control mechanisms. In fact, internal controls play a very important role in any organization’s business and financial policies and processes. Internal controls comprises all the steps considered by the management of organization in order to (Pfister, 2009); (i) preserving its valuable resources against ravage, deception, and inadequacy; (ii) making sure dependability and accuracy in accounting; (iii) securing conformity with the organizational policies; and (iv) appraising the performance level in every unit of the organization. It is a general fact that the implementation of internal control mechanisms is good for the organisations.
According to Blyton & Turnbull (1992), the activities of internal control can be divided into five major components: control environment, risk assessment, control activities, information and communication, and supervision and assessment. In the past, internal control mechanisms were usually employed to test, asses, and confirm accounting and financial statements, and to assure financial reporting accuracy. After arrival of the Internet and other latest technologies, flexible processes of manufacturing, and concepts, like quality control and total quality management (TQM); the environment of business has become a more competitive, complex pitch that has needed to redesign the whole process of business and develop new models of business (Edwards, 1997). From these re-establishing, systems of internal control are also employed to test, assess, and confirm all facets of operations and administration of a firm to make sure that organisational goals and decisions are being accomplished and set managerial, functioning, and financial policies and processes are being complied (Pfister, 2009). The
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