assignments at nominal price of Rs.120 each. Mail us at: subjects4u@gmail.com or contact at 09882243490 Master of Business Administration- MBA Semester 3 MF0013–Internal Audit & Control-4 Credits (Book ID: 1733) Assignment (60 Marks) Note: Answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Each Question carries 10 marks 6 X 10=60. Q1. Describe & explain the term auditing. “Personal qualities of an auditor are important for the successful
Premium Internal control Auditing Internal audit
days 2. a. Describe the implications of the resulting ratios for the auditor’s audit strategy for year 20x9. b. What specific audit objectives are likely to be misstated? c. How should the auditor respond in terms of potential audit tests? 14-28 (Controls over cash receipts processing at a church) You have been asked by the board of trustees of a local church to review its accounting procedures. As a part of this review‚ you have prepared the following comments relating to the collections made at
Premium Accounts receivable Balance sheet Inventory
Justification for an Internal Control System Cynthia Kinney ACC544/Internal Control Systems June 27‚ 2011 Gary Godfrey Justification for an Internal Control System An internal control system is described as a way to control an organization better‚ minimize risk‚ reduce loss‚ and achieve goals. Two approaches‚ political and insurance‚ are used to justify the need for this type of system. Issues such as security valuation‚ asset allocation‚ optimization‚ and performance are considered with
Premium Risk Investment Insurance
States‚ Canada‚ Mexico operating with more than 234‚000 employees ("Lowe ’s home improvement‚ 2012”). Stakeholders are individuals‚ groups‚ or organizations that have a stake in the business. Stakeholders are categorize into two types: internal or external. Internal stakeholders can be owners‚ managers‚ and employees. External stakeholders can be suppliers‚ lenders‚ and customers (Worthington‚ 2009). Human Resource (Safety) There are many safety rules in Lowe’s Home Improvement. “We strive to
Premium Internal control Fraud Lowe's
Internal Controls for Local Government A Training Presentation for City of Tampa’s Leaders Training Objectives What you should know after this class: • • • • • Types of risk Who commits fraud and why Internal controls - who needs them 5 internal control components What you can do! 2 What are Internal Controls? To put it simply‚ internal controls are an exercise of common sense. You are practicing good internal controls when you? • Balance your checkbook • Keep your ATM/debit card
Premium Internal control Internal audit Auditing
Task 3: Internal control 1. What do you think is the primary problem at the Sunshine Center? There where no financial reports or summaries of the cash flows. Probably‚ Barb wasn’t fare about the payments. Because there was no financial report it was not clear where all the money went to. 2. Why is accountability important to the Sunshine Center Committee? The director? Cli ents of the Sunshine Center? Church members? It is so important to the committee so they can check if the
Premium Internal control
Fine Foods - Internal Control and Risk Evaluation Internal controls are an integral part of a company to provide a foundation for a safe‚ sound and successful organization. According to COSO‚ “the three primary objectives of an internal control system are to ensure efficient and effective operations‚ accurate financial reporting and compliance with laws and operations” (COSO‚ 1999). Proper internal control programs can help Kudler’s managers to make decisions‚ progress evaluations and mitigate
Premium Accounts receivable Accounting software Risk
system of ‘internal control (I.C).’ (D.P. Jain‚ 1993). Management not the auditor must establish and maintain the entity’s of control. (Alvin J.‚ James K.‚ W. Morley‚ Ingrid B.‚ 2000). According to Spicer and Pegler‚ “internal control is best regarded as indicating the whole system of controls‚ financial and otherwise estimated by the management in the conduct of a business including internal check‚ internal audit and other form of controls.” (D.P. Jain‚ 1993). Larry F. (2002) defines internal control
Premium Internal control
Using Computer-Assisted Audit Techniques to Support Audit I. Executive Summary Nowadays‚ the use of computers dominates in most of the business world; auditors too have recognized that the power and speed of computers can greatly assist them in their work. The term “computer-assisted audit techniques” (CAAT) is used to denote computer techniques that auditors can utilize to help them complete their audits in a more effective‚ efficient‚ and timely manner. Use of the prefix “computer-assisted”
Premium Internal control Audit Computer
| |This report has been prepared to cover the assessment requirements of AAT Learning and Assessment Area ‘Internal Control and Accounting Systems.’ | |The objectives of this report are to: | |a)analyse accounting system and effectiveness of its internal control | |b) to identify the strengths and weaknesses
Premium Accounts receivable Accounting software Accounts payable