B1 – Ethics‚ fraud and internal control at Bern Fly Company The main purpose that a good internal control must fulfil is to protect the firm’s assets from fraud and theft. As we can see from the description of Bern Fly Company’s case‚ the internal control within the company leaves much to be desired. As it can be read in the case the salespersons get commission promptly after each order taken by their customers without any control to check if that order is real or only a fictitious one. This
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INTRODUCTION MYJ Office limited‚ a wholly Ghanaian Owed company addresses the Ghanaian market need of eco friendly office and Manufacturing supplies. MYJ Office Limited will service a wide range of customers including manufacturing‚ institutions‚ government agencies and individuals. Mission MYJ Office Limited will be one leader in quality eco friendly office supplies and manufacturing supplies in West Africa‚ with the largest product portfolio‚ biggest market share‚ using talented people to supply
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Information Technology‚ Internal Control‚and Financial Statement Audits By Thomas A. Ratcliffe and Paul Munter In Brief ASB Tackles IT System Control Risk Modern data processing systems pose new‚ risk-laden challenges to the traditional audit process. Whereas it was once possible to conduct a financial statement audit by assessing and monitoring the controls over paper-based transaction and accounting systems‚ businesses have increasingly turned to electronic transaction and accounting
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Communication Studies Internal Assessment An investigation into violence directed at teachers in schools General Introduction Violence directed at teachers in schools is a very current issue and has acquired the attention of many individuals in the Caribbean and the world. It is interesting to note that such an issue would shock our foreparents because they would find it appalling that such brutal acts are taking place. Most incidents of this manner are instigated by students but in
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Orion Controls Case Answer 1 I would say we should sell existing valves than develop an improved model and sell it at increased price if you simply look at the decision tree I made based on the assumption and information the case provides. The Expected Monetary Value (EMV) of building new model is $105‚500‚ whereas we can earn $100‚000 payoffs by selling current model (see Figure 1). When considering the situation the Orion Controls faces‚ however‚ I should reconsider my decision. Orion
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The internal environment: * Strategic competitiveness and above – Average returns result when Internal organization (What a firm can do : function of resources‚ capabilities‚ and core competencies) matches External environment ( What a firm might do : function of opportunities in the firm’s external environment → Competitive Advantage * Competitive advantage key points: * No competitive advantage lasts forever. * Over time‚ rival use their own unique resources‚ capabilities‚ and
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Running head: INTERAL CONTROL AND RISK EVALUATION Internal Control and Risk Evaluation Patricia Coleman ACC/542 April 7‚ 2014 Maryln Fisher In today’s society‚ internal controls are applied to support an organization ’s managers to become more successfully to release the responsibilities by applying and understanding internal control concepts. Internal controls are most frequently saw as "a lot of red tape"; however‚ internal controls have different circumstances
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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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Unit 2 – Global Access Control Case Study With business always changing and data always needing to be protected‚ it has become an issue to determine the level of security for confidentiality and integrity purposes while allowing it all to be properly available for use. To put Global in front of the competition with its customers it implements its Global Connect-Link for collaboration. Through the use of its security division‚ CIS‚ Global prioritizes its data according to the risk of activity of
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Orion Controls Case Executive Summary Faced with the challenge of continuing to remain the leader in industrial valve systems‚ Orion Controls is required to decide whether or not to carry out product improvement redesigns. A successful redesign will secure the company an initial level of sales of 50 or 90 units to two new customers followed by the benefits of enjoying an innovator’s reputation. An expected profit of $262‚900 resulting from a product redesign given the information available
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