Recommendations Based on (b)‚ the control environment sets the tone of an organization‚ influencing the control consciousness of its people. It is the foundation for all the other components of internal control‚ providing discipline and structure for the whole organization. It is important to an entity in the overall attitude and actions of managements. To overcome the weaknesses for the internal control system over sales‚ the company should have separation of the duties. The company should assign
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Designing Internal Control System To Minimize Fraud And This paper gives an introduction to Microfinance Institutions (MFIs) informal financial service delivery mechanism which are not under any regulatory framework like the formal sector. So‚ there is a necessity to internalize a built-in internal control system through self-regulation to mitigate exposure to risk in MFI. In 2.0 sound and reliable management system for MFIs through self-regulation are discussed. Section 3.0 discussed under internal
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Professional Ethical Standards in Criminal Justice Careers While researching a growing number of career potentials in the field of criminal justice‚ one sticks out more than the others. The field of practicing law and being a lawyer certainly created more interest than some of the others. An attorney has an interesting job‚ and the side of the law he/she chooses to practice proposes different ethical situations that would create potential dilemmas in everyday situations. Attorneys are people
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THE MURDER OF LINDA ANDERSEN ROMAN WILLIAMS CJ1320 AUGUST 26‚ 2014 Lets Kill Mom The murder of Linda Andersen by her two teenage daughters (Bob Mitchell‚ “The class project” (2014) is a clear example of what started off as not breaking the law‚ but‚ after further review and supported speculation was found that the girls did in fact break the law by murdering their mother for illicit greed‚ motivated by visions of champagne holidays and expanded luxury. Their deviance‚ however‚ has been used in
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Sarbanes-Oxley Act Relates to Internal Control” Accounting 1 November 2011 Writing Assignment-How The Sarbanes-Oxley Act Relates to Internal Control. In attempting to explain the Sarbanes-Oxley Act (SOX) and how it relates to the accounting concepts of control‚ some brief information is necessary to provide background on why it was enacted in 2002. Questions answered are why SOX was enacted‚ who passed this Act and why was it needed‚ what is internal control‚ how SOX Provisions and Requirements
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Alcoholism is an addiction/disease that may start out just by drinking with friends on the weekends socially. The general alcoholic is one whom starts drinking socially and then recognizes that they are unable to stop like some of their friends. Eventually they begin to develop a tolerance and have to actually drink more to feel the same feelings the felt before. Once they realize they are becoming an alcoholic is when they actually start drinking alone or think that they have to drink just to
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One may question the content of Easterly’s work‚ however‚ is choice of titles and headings is remarkable. “Panaceas that Failed”‚ Easterly gives a summary of the economic models applied by a variety of developed states and international institutions‚ that have inevitably failed. The argumentation against the Harrod-Domar Model employed by the US and the USSR is infallible‚ it is true that the economic reasoning behind the Model can be defined as arguable‚ at the very best. Yet Easterly chooses to
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management within Arthur Andersen. Specifically‚ the paper will discuss at least one legal‚ ethical‚ and social responsibility issue that impacts Arthur Andersen. Additionally‚ this paper will analyze the impact these factors have on Arthur Andersen’s management planning. Finally‚ this paper will analyze at least three factors that influence Arthur Andersen’s strategic‚ tactical‚ operational‚ and contingency planning. The firm of Arthur Andersen LLP was founded in 1913 by Arthur Andersen and Clarence
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What were the strengths and weaknesses of Sunshine’s current internal control system? “Internal control is broadly defined as a process designed to provide reasonable assurance regarding the achievement of effectiveness and efficiency of operations‚ reliability of financial reporting and compliance with applicable laws and regulations”(COSO.org‚ 2012). Internal control can help an entity achieve its performance and profitability targets‚ and prevent loss of resources. The Committee of Sponsoring
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CHAPTER 3 SYSTEMS DEVELOPMENT AND DOCUMENTATION TECHNIQUES SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 3.1 Data Flows: merchandise‚ payment‚ cash and register tape Date Source: customer Processes: capture sales and payment‚ give cash and register tape to manager Storage: sales file (register tape)‚ cash register 3.2 It is usually not sufficient to use just one documentation tool. Every tool documents a uniquely important aspect of a given information system. For example‚ system
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