INTERNAL AUDIT 1 Internal audit ‘Internal audit’ is an appraisal activity established by management for the review of accounting and internal control systems as a service to the entity. It reviews‚ monitors and make recommendations for the improvement of systems. Other activities include: Examination of financial information Review of economy‚ efficiency and effectiveness (‘value-for-money’ audits) Review of compliance with external laws and regulations Review of internal policies Review
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have the same time scope. The first cover May 7-14 while the other covers May 6-14 b. One declined transaction is not in the list of the credit card and debit card transaction. Card 4567-3672-6919 dated May 10th 2011 with amount $34.69 c. 2 of the declined transactions were duplicate transactions in the credit card and debit card transactions. They were transacted a few seconds after the first transactions which were approved. d. 2 of the declined transactions were perfect rounded
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Locus of Control It refers to the individual’s perception about the underlying main causes of events in his/her life. The concept was coined by Julian Rotter in the 1950’s and has since become an important aspect of personality studies. It refers to the extent to which the individuals believe that they can control their life. Primarily persons could be classified as either having high internal locus of control or with high external locus of control. Those with high internal locus of control are the
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Business Challenge #6: To develop the best scratch resistant coating in the world for ophthalmic lenses [Titan] Background The ophthalmic lenses (spectacle lenses) consist of some base material (substrate) like CR 39‚ Polycarbonate‚ Trivex and a surface treatment is given to them to increase their hardness. Currently‚ there are 2 processes of applying this coating‚ i.e. Dip coating and Spin coating. The current scratch resistant (Hard) coating on plastic and polycarbonate lenses available in the
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Four steps to learning vocabulary effectively To improve your vocabulary‚ you need to: Read good books. Use a good dictionary. Look up words you don’t know. Be an curious student. Think about what you’re doing. Write things down. Repeat. “How can I learn more vocabulary words?” A very common question. “How can I learn more vocabulary?” Students tend to make the same comments about the challenges and difficulties of vocabulary and of learning new words: ▪ I don’t know a
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One of the teachings of the Church‚ the Sacrosanctum Concilium states that: “Mother Church earnestly desires that all the faithful should be led to that full‚ conscious‚ and active participation in liturgical celebrations” (Flannery‚ 1996) Hence‚ a mission to see to it that it is passed throughout the generations is a must for them as it is seen to be the most authentic manifestation of one’s faith. Whatever it is‚ everything is rooted on the dominance of the influential religion in a Filipino’s
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Case Study on Internal Controls 1. The main internal control concept the Levis ignored was segregation of duties. No one person should be responsible for all transactions from the beginning to the end. Betty had too many responsibilities that were interwoven and should have been performed by more than one person. She handled the cash that came in‚ maintained the cash receipts and the sales records. Another concept that this relates to is that no one individual should perform more
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C h u r c h H i s t o r y I By Mr. Kennedy K. Kirui I. Benefits to be gained from the study of Church History A. A perspective informed by a sense of continuity 1. The whole family in heaven and earth (Eph.3:14) 2. Connecting the canonical history with our own time (Acts 28ff) 3. Escape from the theological and ecclesiastical provincialism (1 Cor.14:36). B. The encouragement of a Godly Heritage 1. The great cloud of witnesses (Heb.11; 12:1) 2. Perspective on persecution
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Thanks for the friendship and for being such a helping hand. Last but not least‚ our deepest gratefulness goes to our beloved parents and siblings for their endless love‚ prayers and support. Saying thank you is just not enough as to compare what they has taught and guided us during the hard time. Simply put‚ to those who indirectly contributed in this assignment‚ your kindness means a lot to us. Thank you very much. Introduction With
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Internal Accountant’s Report to Management The company is thinking about performing a full financial status review prior the release of an upcoming government contract bid. This report will provide supporting information for a full financial status review prior to bid. This supporting information will include the impact of occupational fraud and abuse on the company and how the governmental oversight of accounting and fraud affects the company. The report will also provide potential corruption
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