I. Introduction II. The purpose of internal auditing III. Profession guidance on independence and objectivity IV. Consulting services: a challenge to audit independence? V. Independence vs. Objectivity VI. Conclusion VII. Bibliography I. Introduction The internal auditor occupies a unique position he or she is employed by the management but is also expected to review the conduct of management which can create significant tension since the internal auditor’s independence from management
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treasury automation ensures a more reliable internal control environment. Beyond the efficiency gains‚ a key driver of these initiatives is the need to streamline the SOX compliance process. Process automation enables treasury departments to improve and standardize their control procedures across the enterprise. In addition‚ inherent treasury system functionality eliminates the need for costly manual reconciliations‚ validations or other compensating controls. It also provides CFOs‚ treasurers and
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Effectiveness of Internal Auditor in Controlling Fraud and Other Financial Irregularities in Private Universities in South-West‚ Nigeria. ADETOSO‚ Jonathan Adegoke1 OLADEJO‚ Kayode Samson2 AKESINRO‚ Abayomi Sunday3 Department of Accounting‚ Joseph Ayo Babalola University‚ P.M.B 5006 Ikeji-Arakeji‚ Osun State‚ Nigeria. Email of the corresponding Author: gokeadetoso@yahoo.com‚Kay_oladejo83@yahoo.com sunkesh75@yahoo.com Abstract The study examined the effectiveness of internal auditor in controlling
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Management Control Systems at Reliance Industries Limited Company Profile Reliance Industries Limited (RIL) is world’s leading and India’s no: 1 Private Ltd. Company. RIL group is a highly diversified group and is in to multiproduct business like oil / gas exploration‚ retail of petro / consumer products and mfg. of petrochemical / refining and textile products. Also‚ in to infrastructure and transportation sectors. he Reliance Group‚ founded by Dhirubhai H. Ambani (1932-2002)‚ is India’s largest
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ESTABLISHING AN INTERNAL AUDIT DEPARTMENT: THE CASE OF THE SCHWAN FOOD COMPANY Hugh Pforsich College of Business Administration California State University - Sacramento Sacramento‚ California USA Bonita K. Peterson Kramer College of Business Montana State University Bozeman‚ Montana USA G. Randolph Just* ABSTRACT An effective internal audit department adds value to its organization in numerous ways. It helps the organization to achieve its objectives‚ improves risk management‚ strengthens internal controls
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FRAUD PREVENTION AND CONTROL IN NIGERIAN PUBLIC SERVICE: THE NEED FOR A DIMENSIONAL APPROACH BY BELLO SABO Department of Business Administration‚ A.B.U. Zaria ABSTRACT This article addresses some fundamental issues on fraud prevention and control and their implications on socio-economic development of Nigeria using its public sector machinery. Using the records compiled from early study covering 637 reported fraud cases in Nigeria‚ which were committed between 1970-1990 in respect
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on Academic Research Case The need for an Internal Auditor Report to External Stakeholders to Improve Governance Transparency Naimah AlBaharnah Prof. Liotta‚ Joseph P AC629‚ Contemporary Issues In Auditing June 19‚ 2014 What is the issue being addressed in the paper? Sarbanes Oxley mandates requires all public companies to establish internal controls and procedures for financial reporting. In addition they must document‚ test and maintain those controls and procedures to ensure their effectiveness
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Yongho Cho 8/26/2012 Weekly Memo #1: Should external/internal auditors be responsible for detecting client fraud? In 2001 Enron‚ the seventh largest energy company in 2001‚ filed for bankruptcy. The event named “Enron Scandal” is considered to be the most shocking incident in American economic history. Bring the country to the edge of disaster‚ the scandal was basically caused by securities fraud which Enron was charge with. The irrationality of accounting and auditing system encouraged U
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Linking risk management to strategic controls: a case study of Tesco plc Margaret Woods Nottingham University Business School‚ Wollaton Road‚ Nottingham‚ UK E mail: margaret.woods@nottingham.ac.uk Abstract: Definitions and perceptions of the role and styles of risk management‚ and performance management/strategic control systems have evolved over time‚ but it can be argued that risk management is primarily concerned with ensuring the achievement of strategic objectives. This paper shows the extent
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Journal of Accounting – Business & Management 13 (2006) 39-68 Evaluation of The Effectiveness of Control Systems in Computerized Accounting Information Systems: An Empirical Research Applied on Jordanian Banking Sector Talal H. Hayale* Husam A. Abu Khadra† Abstract The objective of this study is to evaluate the level of Control Systems effectiveness in Computerized Accounting Information Systems (CAIS) that is implemented in the Jordanian banking sector to preserve confidentiality‚ integrity
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