"Benefit of evaluating internal controls in phases" Essays and Research Papers

Sort By:
Satisfactory Essays
Good Essays
Better Essays
Powerful Essays
Best Essays
Page 4 of 50 - About 500 Essays
  • Good Essays

    Internal Control Evaluation Every business should take the steps necessary to ensure that its internal controls are functioning effectively and efficiently. It is important to have accountability at every level of a business. Creating a checklist to evaluate internal controls will support the business in this effort. According to Louwers‚ Ramsay‚ Sinason and Stawser (2007)‚ an internal control questionnaire aide an auditor in gathering evidence about the control environment and accounting and

    Premium Internal control Audit Auditing

    • 645 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Internal Control

    • 1079 Words
    • 5 Pages

    4. Organisation background Inkwell Limited is a manufacturer of re-cycle inkjet and laser toner printer cartridges. Inkwell Limited printer cartridge is widely applicable. The main commercial focus is on strong retail market that demand cheaper and greener products Inkwell Ltd has a couple of small main suppliers that produce 4.1 Inkwell Limited is a limited company‚ established in 2003. The head office and

    Premium Management Accountant Bookkeeping

    • 1079 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Chapter 1 Auditing and Internal Control Review Questions 1. What is the purpose of an IT audit? Response: The purpose of an IT audit is to provide an independent assessment of some technology- or systems-related object‚ such as proper IT implementation‚ or controls over computer resources. Because most modern accounting information systems use IT‚ IT plays a significant role in a financial (external audit)‚ where the purpose is to determine the fairness and accuracy of the financial statements

    Premium Auditing Internal control Audit

    • 8743 Words
    • 31 Pages
    Good Essays
  • Powerful Essays

    EXECUTIVE SUMMARY This paper will evaluates the role of information technology and how it affects internal audit process in banking industry. The study will also stresses on how IT affects internal control (control environment‚ risk assessment‚ control activities‚ information and communication and monitoring) and provides guidelines and best practices in evaluating techniques available to effectively perform auditing tasks internally. It will addresses how technology‚ Information system (IS) and

    Premium Internal control Auditing Internal audit

    • 3052 Words
    • 13 Pages
    Powerful Essays
  • Good Essays

    Internal Control Risks

    • 658 Words
    • 3 Pages

    Internal Control Risks Identified in Apollo Shoes Assessing control risk is the process of evaluating the design and operating effectiveness of a company’s internal controls as to how it prevents or detects material misstatements in the financial statement assertions of management (Hayes‚ Dassen‚ Schilder‚ & Wallage‚ 2005). The conclusion reached as a result of assessing control risk is referred to as the assessed level of control risk. When assessing controls the auditor looks for weaknesses

    Premium Auditing Internal control Audit

    • 658 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Chapter 1—Auditing and Internal Control TRUE/FALSE 1. Corporate management (including the CEO) must certify monthly and annually their organization’s internal controls over financial reporting. ANS: F PTS: 1 2. Both the SEC and the PCAOB require management to use the COBIT framework for assessing internal control adequacy. ANS: F PTS: 1 3. Both the SEC and the PCAOB require management to use the COSO framework for assessing internal control adequacy. ANS: F PTS: 1 4. A qualified opinion

    Premium Internal control Auditing Audit

    • 5190 Words
    • 21 Pages
    Good Essays
  • Better Essays

    Company Internal Control

    • 1725 Words
    • 7 Pages

    | LJB Company Internal Control Report Review | October 2‚ 2011 | [Type the document subtitle] | The management of LJB Company is responsible for establishing and maintaining adequate internal control over financial reporting. This internal control system is designed to provide reasonable assurance to the company’s management and board of directors regarding the preparation and fair presentation of published financial statements. All internal control systems‚ no matter how well designed

    Premium Internal control

    • 1725 Words
    • 7 Pages
    Better Essays
  • Good Essays

    Justification for an Internal Control System ACC 544 Justification for an Internal Control System Introduction According to A. A. Gramling in the Encyclopedia of Business and Finance‚ internal control can be described as “any action taken by an organization to help enhance the likelihood that the objectives of the organization will be achieved.” There are several approaches to risk management in an organization – the portfolio approach and the use of insurance are two. Both

    Premium Internal control Risk Management

    • 898 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Internal Control System

    • 430 Words
    • 2 Pages

    A system of internal control refers to the process by which organizations maintain environments that encourage incorruptibility and deter fraudulent activities by management and employees. An organization’s components of internal control are evaluated during the planning phase of an independent financial statement audit. The results of the evaluation directly influence the auditor’s level of detailed testing. To reduce detailed testing‚ and perhaps the audit fee‚ organizations implement common features

    Premium Internal control Audit Financial audit

    • 430 Words
    • 2 Pages
    Good Essays
  • Better Essays

    Internal Cash Control

    • 1016 Words
    • 5 Pages

    Internal cash control is very important to any business. Without effective methods in place to ensure that funds and resources are being used in an ethical and efficient way‚ a company may lose money or run into many other problems. Through proper establishment of responsibly‚ segregation of duties‚ document procedures‚ and security measures‚ any company should be able to maintain their funds and feel confident that their employees are producing accurate and ethical results. In the exercise detailing

    Premium Money Responsibility Social responsibility

    • 1016 Words
    • 5 Pages
    Better Essays
Page 1 2 3 4 5 6 7 8 9 50