Week 5 Case Study 2‚ Internal Control System. By Elias Hane Ehane2000@yahoo.com Cell: 786-488-8109 ACCT 504: Financial Accounting Submitted To: Professor Mario Perez Keller Graduate School of Management DeVry University - Miramar Campus Miramar‚ Florida MPEREZ@devry.net December 5‚ 2012 Table of Contents Page Presentation………………………………………………………………………………….1 Introduction Overview of the situation….……………………………………………………………
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Justification for an Internal Control System ACC/544 April 22‚ 2013 Christine Errico Justification for an Internal Control System Over the past years many organizations have fallen because of inadequate financial reporting and ineffective controls. To overcome this dilemma‚ the creation of the Sarbanes Oxley Act (SOX) of 2002 requires corporations to take full control over its financial reporting and accounting by placing internal controls within its organization. Internal controls not only establish
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Business Administration Stamford University Bangladesh. My supervisor asked me to prepare a report on internal control system of nationalized banks of Bangladesh in internal auditor’s perspective including a survey questionnaire. I personally was so interested about the topic. That’s way I have chosen the topic “Effectiveness of Internal Control Systems of Nationalized Banks of Bangladesh: Internal Auditors perspective”. 1.2 Objectives of the Report: The objectives of the report are: 1.
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Internal Control: Management Information System (MIS) The OLUS HOTEL is a 100% Filipino-owned corporation duly registered with the Securities and Exchange Commission since June 2009. It is a three-story building along Quezon Hi-way. Situated at the techno hub district of Quezon‚ its presence has helped spur the current thrust and development of other areas going farther north. This synergistic relationship has given several competitive advantages‚ which are translated into profits for the sustainable
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SARBANES-OXLEY SECTION 404: A Guide for Management by Internal Controls Practitioners SARBANES-OXLEY SECTION 404: A Guide for Management by Internal Controls Practitioners The Institute of Internal Auditors 2nd Edition‚ January 2008 Table of Contents About the Second Edition...........................................................................................................iii How to Use This Guide ...........................................................................
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Case Study 2-Internal Controls 2014 ACCT 504 Table of Contents I) Introduction II) Internal Control Requirements-Sarbanes/Oxley Act III) Internal Controls-Strengths IV) Internal Controls-Opportunities for Improvement Introduction It has come to the attention of the president of LJB Company that an evaluation is needed to determine the reliability and level of compliance of the company’s
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Disclosure controls is the performance to ensure that information required to be disclosed in periodic reports filed under the Exchange Act is recorded‚ processed‚ summarized and reported within the time periods specified by the Securities and Exchange Commission’s rules and forms and such information is accumulated and communicated to management as appropriate to allow for timely decisions regarding required disclosure. Disclosure controls are important because it reduces the risk of the company
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Southwest Airlines: Control Mechanisms Southwest Airlines is a dynamic organization that is researched and studied by many. One reason for this attention is the positive corporate culture. This culture attracts dynamic people to the organization who are encouraged to be innovative and grow as leaders while supporting and promoting the mission of the airline. This culture was established through effective planning‚ organizing and leadership. To maintain this culture and the success of the airline
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present the audit risk model‚ which is used to determine the nature‚ timing‚ and extent of audit procedures. Describe the components of the model and discuss how changes in each component affect the auditor’s need for evidence. The audit risk model is used to determine the nature‚ timing‚ and extent of substantive audit procedures. The components of audit risk model usually stated as follows: DR = AR/(IR x CR) Where: DR = detection risk; AR = audit risk; IR = inherent risk; CR = control risk Detection
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STRATEGIC CONTROL- ERIK TREFFTZ Strategic Control refers to the activity of analysis and surveillance of the Strategic Planning. Its main objective is to monitor and implement corrective measures when facing any kind of deviation in the original Strategy‚ after comparing it with the Strategic Standards‚ and thus granting the good-riddance of the company´s targets. It works through the establishment of reference points‚ rules‚ methods and devices that allow to measure the development efficiency
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