1 FLOWCHARTS PREPARED BY: ANUSHKA NANCOO 2 WHAT IS A FLOWCHART? Maps or graphical representations of a process Illustrates the sequence of operations to be performed to get to the solution of a problem Useful tool for communication 3 USES OF A FLOWCHART To see whether the steps of a process are logical To record the sequence of tasks in a process To uncover problems/miscommunication To define the boundaries of a process Aids in developing a common base knowledge
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Risk Control – ARM 55 Case Study McMaster University Instructor: Z.Linda Papadopoulos‚ B.Sc.‚ C.I.P.‚ C.C.I.B.‚ C.R.M. Final Exam Fun Risk Enterprise April 12‚ 2011 a) Property Theft Of Cash – Due to the enormous amount of cash receipts and due to affluent clientele that indulge in fancy rides and gourmet restaurants we are at risk for losses to occur. LOSS PREVENTION: Move to cashless environment. Implement credit cards‚ interact and automated bracelets that can be
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INTERNAL CONTROL AND RISK EVALUATION PAPER ACCOUNTING 542 INTERNAL CONTROL AND RISK EVALUATION PAPER Many businesses are concerned with information technology risks. Many organizations are concerned with different types of risk and attempt to control risk as they are assessed. In order to control risk‚ organizations must create control environments that set the tone of employee awareness and promote operational efficiency. One attempt to control risk is through risk assessment. The
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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
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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 risks‚ however
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PMBOK Monitor and Control Risk With this week’s discussion board assignment‚ I chose the topic of monitoring and controlling risk within your project. I feel that staying atop of this issue is critical to the life and success of your project. This article stated that risk management is an on-going process throughout the life of your project. Risk and potential new risk must be continuously identified‚ analyzed‚ and responded to. The process of mentoring and controlling risk is: Tracking existing
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Vulnerabilities Risks Likelihood Impact Risk Mitigation Techniques Introduction of viruses and malware to the organizational network • Data leakage/theft • “Owned” systems (zombies) • System downtime • Resources required to clean systems Likely Significant • Ensure that antivirus and antimalware controls are installed on all systems and updated daily. • Consider use of content filtering technology to restrict or limit access to social media sites. • Ensure that appropriate controls are also installed
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Internal Control and Risk Evaluation Accounting Information Systems 542 October 10‚ 2011 Analyze the risks in the systems that your team analyzed An Accounting Information System is an integral part of the new design of Kudler’s computer system. Accountants do not necessarily need to understand completely how computers process data of the accounting application‚ but it is essential for them to understand the flowcharts and documentation that shows how this processing works. The purpose
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or processes in a step-by-step flow‚ you can then concentrate more intently on each individual step‚ without feeling overwhelmed by the bigger picture. I’ve designed a flowchart for one daily activity - The activity I chose is "Being on Time". When I am getting ready to leave‚ and usually rushing‚ a ringing telephone controls my time‚ often making me late. Controlling this interruption is a necessity. I have one telephone; one answering machine connected; and I do have caller id on my telephone
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Process Flowchart Process Flowchart This paper includes information about a process (University of Phoenix‚ 2010‚ Syllabus) completed daily. A flowchart represents activities in a process. A flowchart is also included in this paper. A key element of operations strategy is the activities involved in process design (Chase‚ Jacobs‚ & Aquilano‚ 2006). A metric used to measure the process and factors that affect the process are also included. Process Explanation The process included in this paper
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